"The CBP is due launching the Consolidated Administration and Processing of Entries (CAPE) portal through the Automated Commercial Environment (ACE) system, which will streamline the submission and processing of valid refund requests for duties imposed under the IEEPA."
"As of April 9, only about 56,500 of these importers owed refunds had completed enrollment for electronic payment - a required step to receive any money, per a CBP filing."
"Phase 1 is limited to certain unliquidated entries and certain entries within 80 days of liquidation, meaning not all importers will be immediately eligible for refunds."
"A mixture of firms and consumers bore the bulk for the tariff burden as of November, with 90% of the costs being passed on, but it remains unclear how much consumers will benefit from the refund process."
The Supreme Court did not provide guidance on refunding tariffs paid under the International Emergency Economic Powers Act. The Court of International Trade mandated the administration to initiate reimbursements. The CBP is launching the CAPE portal for streamlined refund requests. Importers must submit a CAPE declaration and create an ACE account. Refunds are expected within 60-90 days, but delays may occur due to inaccuracies. Approximately 330,000 importers paid $166 billion in duties, but only 56,500 have enrolled for electronic payments, and not all qualify for refunds in the initial phase.
Read at Axios
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