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The Trump administration is expected to launch a refund system for businesses that paid tariffs later struck down by the supreme court. It is the first step in paying back $166bn in tariffs after justices ruled the Trump administration was overstepping its constitutional powers.
Importers and their brokers will be able to begin claiming refunds through an online portal beginning at 8am ET, according to US Customs and Border Protection, the agency administering the system.
It’s the first step in a complicated process that also might eventually lead to refunds for consumers who were billed for some or all of the tariffs on products shipped to them from outside the United States, the Associated Press reports.
Companies must list the goods on which tariffs were levied. If CBP approves a claim, it will take 60-90 days for a refund to be issued, the agency said. CBP said in court filings that over 330,000 importers paid a total of about $166bn on more than 53m shipments.
More than 3,000 businesses, including FedEx and Costco, have sued the Trump administration to get refunds, the New York Times reports. FedEx has suggested customers could be in line for refunds for overpaid tariffs while Costco has said it may pass on refunds in lower prices for consumers.
