When will the first Trump tariff refunds arrive? Timeline and payout details explained
The refunds will go to the companies that imported the goods, not consumers though companies like FedEx and UPS have committed to passing along any savings
The federal government is set to begin issuing the first wave of refunds for President Trump’s invalidated tariffs on approximately May 11, according to new filings from the US Court of International Trade.
The timeline follows a February Supreme Court ruling that nullified the tariffs in a landmark 6-3 decision. Customs and Border Protection (CBP) is now tasked with returning $166 billion plus interest to thousands of affected businesses.
Refunds will be paid directly to importing companies though major carriers like FedEx and UPS have indicated they intend to pass these savings on to their customers.
Despite tens of thousands of companies attempting to access the system, roughly 21% of affected entries have already been successfully uploaded.
Judge Eaton discussed problems with government officials at Wednesday’s closed-door hearing, including long-wait times and issues resetting usernames and passwords, as reported by The Hill.
Eaton noted that while the system is functioning, users have reported glitches including long wait times and password reset issues.
The discussion also involved questions regarding the interest rate that applies to refund amounts, and the method Customs uses to calculate interest,” wrote Eaton, an appointee of former President Clinton.
The government is expected to issue formal guidance regarding interest rate calculations on the CBP website, with a follow-up court update scheduled for May 12.
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