CBP is creating a refund system for US$166 billion in illegal tariffs, with progress reported at 40-80%, according to Reuters.
US Customs and Border Protection is building a system to refund US$166 billion in illegal tariff collections, with progress reported between 40 and 80 percent, according to Reuters.
Brandon Lord, a CBP official, stated in a court filing that the agency is developing an online portal for importers and brokers to submit claims. This system will process, review, and refund payments, and it could be operational by mid-April.
The filing was made to comply with a directive from Judge Richard Eaton of the US Court of International Trade. The Supreme Court struck down most tariffs in February but did not specify how refunds should be handled.
More than 330,000 importers paid tariffs on 53 million shipments; however, only 21,000 are currently registered to receive refunds. Refunds will only be issued to importers who paid the tariffs, although consumer groups have urged companies to pass on the savings.
FedEx has announced that it will reimburse customers, while Costco plans to lower prices. Meanwhile, Trump has ordered new 10 percent tariffs under emergency authority, which states and businesses are currently challenging in court.
Mr. Lord indicated that the least developed part of the system is mass processing, which is 40 percent complete, while the review portion is 80 percent complete. CBP did not specify how quickly refunds would be paid.
