US President Donald Trump's administration refunds $100bn of ‘liberation day’ tariffs
US President Donald Trump's administration has paid back $100bn in "Liberation Day" tariff refunds to businesses through customs officials, the Financial Times reported on Wednesday.
The administration of former US President Donald Trump refunded $100 billion in tariffs, known as the 'Liberation Day' tariffs, to businesses. This payment accounts for approximately 60% of all tariff revenue collected under the policy, with a court filing from US Customs and Border Protection revealing this figure. However, significant amounts remain unpaid; $29 billion is under review by trade authorities, while an additional $1.6 billion is delayed due to importers failing to provide their bank details.
This refund followed a major Supreme Court ruling in February, which deemed broad import duties introduced under economic powers illegal.
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