Trump administration refunds $100 billion in tariffs struck down by US Supreme Court
The Trump administration has refunded approximately $100 billion in tariffs after the Supreme Court ruled that the president lacked the authority to impose them under the International Emergency Economic Powers Act. While the funds were returned to importers, critics remain concerned that these savings may not reach consumers.
Why it matters
This case underscores the legal limitations of executive power regarding trade policy and the economic impact of tariff reversals on corporate balance sheets.
Donald Trump's administration has refunded about $100 billion in tariffs after the US Supreme Court struck down a broad set of duties imposed under an emergency economic law, court filings show.About 60 per cent of the $166 billion collected under the tariffs had been refunded by July 31, according to a filing in the US Court of International Trade, cited by REuters.
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