U.S. launches refunds of up to $166 billion in illegal tariffs

The U.S. administration has launched a system to refund up to $166 billion in import tariffs ruled illegal by the U.S. Supreme Court, Reuters reported. The portal went live on April 20 and allows importers to file claims electronically.

More than 330,000 importers are eligible for refunds tied to 53 million shipments. As of April 9, 56,497 importers had completed the steps needed to receive electronic refunds, totaling $127 billion.

Refunds are expected to be paid within 60 to 90 days after approval, although more complex claims may require manual review. The refunds stem from tariffs imposed by former President Donald Trump under emergency powers that the Supreme Court struck down in February.