"The government expects to process refunds in phases, however, focusing first on more recent tariff payments. Any number of technical factors and procedural issues could delay an importer's application, so any reimbursements businesses plan to make to customers likely would trickled down slowly."
"In a 6-3 decision, the Supreme Court on Feb. 20 found that Trump usurped Congress' tax-setting role last April when he set new import tax rates on products from almost every other country, citing the U.S. trade deficit as a national emergency that warranted his invoking of a 1977 emergency powers law."
"Customs and Border Protection said in court filings that over 330,000 importers paid a total of about $166 billion on over 53 million shipments."
A refund system for businesses that paid tariffs imposed without constitutional authority is set to launch. Importers and brokers can claim refunds online. Companies must submit declarations for goods on which they paid tariffs. Refunds will be processed in phases, starting with recent payments. The Supreme Court ruled that Trump overstepped his authority in setting import tax rates. A judge confirmed that companies subjected to these tariffs are entitled to refunds. Over 330,000 importers paid approximately $166 billion in tariffs, but not all orders qualify for refunds immediately.
Read at Fortune
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