Approximately 100 billion dollars of refunds, including duties plus interest, have been completed as of July 31, said Brandon Lord, an official with the U.S 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 U.S. 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.
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