"U.S. Customs has estimated that it owes a total of $166 billion in tariff refunds, and the agency's legal filings suggest that the initial phase would tackle the majority of affected imports."
"Small businesses organized, spoke out, and won a major victory. Now, the federal government must follow through with a refund process that truly works for Main Street."
"The cost of tariffs has been woven into the prices of many products in a way that can make it hard to separate out what customers ultimately paid."
The U.S. government is launching the tariff refund process after the Supreme Court deemed many tariffs unconstitutional. U.S. Customs will initiate payouts, but not all goods will qualify immediately. Refund requests may take 60 to 90 days for processing. Small businesses have celebrated this development, urging the government to ensure an effective refund process. Customs estimates $166 billion in refunds owed, with about $127 billion for those who signed up for electronic payments. However, consumers may not see direct benefits as tariff costs are embedded in product prices.
Read at www.npr.org
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