3 weeks ago

Trump administration refunds $100B in tariffs after Supreme Court ruling

Trump administration refunds $100B in tariffs after Supreme Court ruling
Trump administration refunds $100 billion in tariffs after Supreme Court ruling · wionews.com

The president of the United States put extra fees, called tariffs, on things that other countries sell to America.

The government said these fees were needed to keep the country safe.

But the Supreme Court, the highest court in the country, said the president did not have the power to do that.

So the government has to give the money back to the companies that paid.

The government collected about 166 billion dollars in these fees.

So far, it has given back about 100 billion dollars.

That is about six out of every ten dollars that were collected.

Many more refund requests are still being checked.

Some other fees that were made using different rules are still in place.

The government is now trying to find new, legal ways to charge tariffs.

Key facts

Total refunds processed
~$100 billion
Total tariffs collected under IEEPA
~$166 billion
Share of collected duties refunded
~60%
Refund claims accepted for processing
~$128.68 billion (as of July 31)
Legal authority
International Emergency Economic Powers Act (IEEPA)
Supreme Court ruling
February - tariffs illegal; president exceeded authority
Court filing date
Tuesday, August 4
Sector-specific tariffs
Remain in force under different legal authorities

Sources

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