Trump administration hands back 100 billion USD in tariff refunds

NEW YORK - The Donald Trump administration has returned around 100 billion US dollars of tariffs under the International Emergency Economic Powers Act (IEEPA) to US importers by the end of July, according to a court document filed on Tuesday.

Approximately 100 billion dollars of refunds, including duties plus interest, have been completed as of July 31, said Brandon Lord, an official with the US Customs and Border Protection (CBP).

Meanwhile, around 128.68 billion dollars in both potential and certified refunds have been accepted for processing through the Consolidated Administration and Processing of Entries system, said the official.

The Trump administration started to issue the first tariff refund payment around May 11 after the US Supreme Court ruled on Feb 20 that President Trump's tariff policies under IEEPA are unconstitutional.

The CBP was projected to hand out up to 175 billion dollars of IEEPA tariffs in total, according to an earlier estimate issued by Penn Wharton Budget Model at the Wharton School of the University of Pennsylvania.