The Trump administration has refunded more than $20 billion in tariffs to importers and shippers so far, according to a court filing, after the Supreme Court struck down the cornerstone of President Donald Trump\u2019s trade policy in February.<\/p>\n
The administration had relied on authority under the International Emergency Economic Powers Act to collect more than $165 billion in country-specific tariffs from importers since the start of Trump\u2019s second term. The high court found that the tariffs exceeded what IEEPA permitted the president to do. <\/p>\n
Now, those tariffs are being refunded to importers.<\/p>\n
\u201cApproximately $85 billion in both potential and certified refunds have been accepted for processing\u201d so far, Brandon Lord, executive director of trade programs at U.S. Customs and Border Protection, said in a court filing Tuesday. <\/p>\n
Citing data through Friday, Lord said $20.6 billion in refunds of the $85 billion had been \u201ccompleted.\u201d <\/p>\n
However, he wrote, \u201c4,185 consolidated refunds have not been transmitted to Treasury\u201d for processing yet because the importers that had applied for them had not provided their bank account information.<\/p>\n
Hundreds of companies have lined up to get their money back, including Costco, Walmart, Home Depot, Target, General Motors, Ford, FedEx, UPS and DHL. <\/p>\n
Last month, Trump said he would \u201cremember\u201d which companies decided not to ask for refunds, implying he would view them favorably.<\/p>\n
Despite the prospect of refunds, importers are still paying a blanket 10% tariff that Trump implemented under a different law immediately after the Supreme Court struck down his IEEPA tariffs.<\/p>\n
Trump had threatened to raise that duty to 15% in the days after the Supreme Court ruling, but so far he has not done so. <\/p>\n
The 10% rate, implemented under Section 122 of the Trade Act of 1974, allows the president to impose global tariffs of up to 15% for up to 150 days. Congress could vote to extend that \u2014 with few exceptions, the power to regulate tariffs belongs to Congress, not the president.<\/p>\n
But the Trump administration appears poised to try to renew the Section 122 tariffs\u2019 150-day period without congressional approval.<\/p>\n
U.S. Trade Representative Jamieson Greer said Tuesday that he cannot imagine the Republican-controlled House and Senate moving to block the administration from restarting the 150-day clock.<\/p>\n
\u201cWhen you look at that statute, it says they expire but doesn\u2019t say when you can redo it,\u201d Greer said at the Council on Foreign Relations. <\/p>\n
\u201cI might get in a little trouble here,\u201d he said, half-jokingly. <\/p>\n
\u201cWhether the 122, you know, can be used \u2014 when it can be reused \u2014 I mean, I can\u2019t imagine that Congress would say, well, this is just, you know, once per term, right?\u201d Greer asked rhetorically.<\/p>\n
\u201cSo I can\u2019t really opine on it, beyond saying it doesn\u2019t say you can\u2019t reuse it. But it is temporary; there\u2019s some tension in that,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
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