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The Supreme Court ruled President Donald Trump's tariffs illegal in February.
The Supreme Court ruled Trump's global tariffs illegal under the 1977 International Emergency Economic Powers Act.
KEY POINTS
- American companies could receive up to $166 billion in tariff refunds, with payments starting around May 11.
- Over 75,000 businesses applied for refunds; 19% of claims have already been rejected for validation failures.
- Consumers will not receive direct refunds, but Costco, UPS, and FedEx plan to pass savings to their customers.
- Tariff refunds only apply to businesses or brokers for unliquidated entries or finalized tariffs within 80 days.
COMPANIES
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