$20 billion in tariff refunds paid so far, with more on the way

The Trump administration has refunded more than $20 billion in overpaid tariffs so far after the Supreme Court struck down the pillar of Trump’s trade policy.

The Trump administration has refunded more than $20 billion so far in tariffs to importers and shippers, according to a court filing, after the Supreme Court struck down the cornerstone of President Donald Trump’s trade policy in February.

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The administration had relied on authority under the International Emergency Economic Powers Act to collect more than $165 billion in country-specific tariffs from importers since the start of Trump’s term. The high court found that these tariffs exceeded what IEEPA permitted the president to do.

Now, those tariffs are being refunded to importers.