Donald Trump administration begins USD 166 billion tariff refund process

Cars wait to be loaded onto ships for export at the Dongfang Port in Lianyungang, in China’s eastern Jiangsu province, on Monday. Pic/AFP

US businesses that paid tariffs later ruled illegal by the US Supreme Court were set to begin applying for refunds starting Monday, as the Trump administration launches a dedicated online portal to process claims. The move marks the first phase of efforts to comply with court orders to reimburse $166 billion in tariffs and interest.

The US Supreme Court ruled Trump's tariffs as illegal. FILE PIC/AFP

While the Supreme Court did not specify how refunds should be carried out under the International Emergency Economic Powers Act (IEEPA), the US Court of International Trade last month directed the administration to begin the reimbursement process.

The US Customs and Border Protection will roll out the Consolidated Administration and Processing of Entries (CAPE) portal through its Automated Commercial Environment (ACE) system. Importers must submit a "CAPE declaration," which CBP says will streamline the process.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever