The government has launched a refund system for businesses that paid tariffs imposed by President Trump, because apparently someone realized that making people pay for something that was later ruled illegal might be a bit unfair. Importers and their brokers could begin claiming refunds through an online portal starting at 8 a.m. Monday, according to U.S. Customs and Border Protection (CBP), the agency tasked with administering the system. This is the first step in a complicated process that might eventually lead to refunds for consumers who were billed for some or all of the tariffs on products shipped from outside the U.S.
Companies must submit declarations listing the goods on which they collectively paid billions of dollars in import taxes that were struck down by the Supreme Court on Feb. 20. If CBP approves a claim, it will take 60 to 90 days for a refund to be issued, because government efficiency is a thing that happens. The government expects to process refunds in phases, focusing first on more recent tariff payments.
CBP said in court filings that over 330,000 importers paid a total of about $166 billion on over 53 million shipments. Not all of those orders qualify for the first phase, which is limited to cases where tariffs were estimated but not finalized or within 80 days of a final accounting. To receive refunds, importers have to register for CBP's electronic payment system. As of April 14, 56,497 importers had completed registration and were eligible for refunds totaling $127 billion, including interest. So, for those keeping score: $127 billion in refunds, a Supreme Court ruling, and a portal launch - just another day in the thrilling world of trade policy.