Business & Finance
US trade court to Trump administration: speed up tariff refunds
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US trade court to Trump administration: speed up tariff refunds US judge urges faster refunds of billions of dollars in revenue from tariffs that were collected and later deemed illegal by Supreme Court “The time has come to refund all the duties,” said Judge Richard Eaton on Tuesday, adding that the delay is leading to a “growing inequity” between big importers and small businesses. Appearing before the court, Customs and Border Patrol’s (CBP) executive assistant commissioner for trade,...
US trade court to Trump administration: speed up tariff refunds
US judge urges faster refunds of billions of dollars in revenue from tariffs that were collected and later deemed illegal by Supreme Court
“The time has come to refund all the duties,” said Judge Richard Eaton on Tuesday, adding that the delay is leading to a “growing inequity” between big importers and small businesses.
Appearing before the court, Customs and Border Patrol’s (CBP) executive assistant commissioner for trade, Susan Thomas, said that the agency planned to refund the remaining tariffs at a later date.
“We can’t do it all at once,” Thomas told the court.
According to the CBP, of the estimated US$166 billion collected under the now-illegal tariffs, the agency has accepted and begun processing roughly US$90 billion in claims. Around US$23 billion has already been processed under phase one, with total planned refunds expected to reach US$127 billion by the end of the process.