U.S. setting up tariff repayment system
The U.S. customs agency said on Tuesday it was making progress in setting up a streamlined process for refunding some $166 billion in tariff collections deemed illegal by the Supreme Court, but that its new system could take up to 45 days to review and process refund applications.
In a filing with the U.S. Court of International Trade, U.S. Customs and Border Protection official Brandon Lord said development of a new refund system is now more than 60% complete. He did not provide a start date for applications, but the agency previously had indicated a 45-day goal, a deadline that ends in late April.
The U.S. Supreme Court last month struck down President Trump's broadest global tariffs under the International Emergency Economic Powers Act, dealing a blow to the central economic policy of his administration.
More than 330,000 importers paid the IEEPA tariffs on 53 million shipments, according to court documents.
