Trump administration launches tariff refund system as first step in paying back billions – US politics live | US politics
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The Trump administration is expected to introduce a refund system for businesses that paid the tariffs, which were later struck down by the high court. This was the first step in refunding $166 billion in tariffs after judges ruled that the Trump administration had overstepped its constitutional authority.
Importers and their brokers will be able to begin requesting refunds through an online portal starting at 8 a.m. ET, according to U.S. Customs and Border Protection, the agency that manages the system.
This is the first step in a complex process that could eventually lead to refunds for consumers who were also billed for part or all of the bill. tariffs According to the Associated Press, on products shipped to them from outside the United States.
Companies must list the goods to which tariffs apply. If CBP approves a request, it will take 60-90 days for the refund to be issued, the agency said. CBP he said in court filings. It was stated that more than 330,000 importers paid a total of approximately $166 billion for more than 53 million shipments.
According to the New York Times, more than 3,000 businesses, including FedEx and Costco, sued the Trump administration to get refunds. FedEx suggested customers could be on the line for refunds for overpaid tariffs, while Costco said it could refund consumers with lower prices.
Lauren Almeida
Oil prices rose sharply and European stock markets fell Hopes for a peace agreement faded after the US seized the Iranian ship.
Brent crude oilInternational benchmark of oil prices, It rose 4.8% to $94.69 per barrel on Monday..
The price changes come after Donald Trump announced on Sunday the seizure of an Iranian cargo ship trying to bypass the US-imposed blockade near the Strait of Hormuz shipping canal.
Donald Trump is in Washington today. He will spend most of the day in meetings and sign executive orders at 3 p.m. ET. None of this is available to the press, but if anything changes and we hear from the president, we’ll let you know.
Edward Helmore
After the Supreme Court struck down Trump’s tariffs in February, U.S. businesses called for a quick process to refund U.S. importers.
The US National Retail Federation, which represents a wide range of US retailers from Walmart to small brands and manufacturers, called at the time for a “seamless process for returning tariffs to US importers”.
“The refunds will serve as an economic boost and allow companies to reinvest in their operations, employees and customers,” he said.
The US Chamber of Commerce also called for the rapid reinstatement of tariffs under the decision. Chief policy officer, Neil BradleyHe said: “Swift reimbursement of impermissible tariffs will make sense for the more than 200,000 small business importers in this country and help support stronger economic growth this year.”
“We encourage the administration to use this opportunity to reset overall tariff policy in a way that will lead to greater economic growth, greater wage increases for workers, and lower costs for families,” he added.
Dan AnthonyThe director of the We Pay the Tariffs business coalition said the impact of the tariffs was particularly harsh on small businesses, which took out loans, delayed hiring and canceled expansion plans to comply with import tariffs.
He predicted that refunds would allow businesses to reverse these trends.
Body published national signature letter “It is imperative that the money be returned without some of these onerous processes,” he said.
“Full, rapid automatic refunds will really be our focus,” he added.
“They took out loans just to keep their doors open. They froze hiring, canceled expansion plans, and watched their life savings drain away to pay tariff bills that were not included in any budget or business plan,” the statement said. “But a legal victory is meaningless without real relief for the businesses that pay these rates.”
Donald Trump He said US negotiators would be in Pakistan on Monday and once again threatened to destroy power plants and bridges if a deal was not reached.
Trump did not say who would lead the delegation, but a White House official said it was his vice president, J.D. Vance.
The talks were thrown into doubt after Iran said it had no plans for new talks, saying Washington had violated the ceasefire agreement for its implementation.
A spokesman also said Tehran had insisted in previous diplomatic talks that it could not forget US attacks on Iran as Iran would continue to defend its national interests.
As a reminder, the US-Israeli war against Iran, which started on February 28, and last year’s 12-day war, began when Iran and the US were in talks about Iran’s nuclear program.
You can follow the latest developments in the war with Iran on our live blog:
Hello, welcome to the live blog of US politics.
The Trump administration is expected to introduce a refund system for businesses that paid the tariffs, which were later struck down by the high court. This was the first step in refunding $166 billion in tariffs after judges ruled that the Trump administration had overstepped its constitutional authority.
Importers and their brokers will be able to begin requesting refunds through an online portal starting at 8 a.m. ET, according to U.S. Customs and Border Protection, the agency that manages the system.
This is the first step in a complex process that could eventually lead to refunds for consumers who were also billed for part or all of the bill. tariffs According to the Associated Press, on products shipped to them from outside the United States.
Companies must list the goods to which tariffs apply. If CBP approves a request, it will take 60-90 days for the refund to be issued, the agency said. CBP he said in court filings. It was stated that more than 330,000 importers paid a total of approximately $166 billion for more than 53 million shipments.
According to the New York Times, more than 3,000 businesses, including FedEx and Costco, sued the Trump administration to get refunds. FedEx suggested customers could be on the line for refunds for overpaid tariffs, while Costco said it could refund consumers with lower prices.
