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U.S. Customs states that the new system for tariff refunds is being implemented, and processing time may reach 45 days.
On March 31st local time, the U.S. Customs and Border Protection announced that they are advancing a new tariff refund system designed to reimburse tariffs that have been ruled as illegally collected, but individual application review and processing may take up to 45 days. The agency stated in documents submitted to the U.S. International Trade Court that the new system is currently about 60% to 85% complete, and applications will be phased in, prioritizing recent customs clearances or import records under review. Data shows that approximately 26.6k importers have completed electronic refund processes, involving about $120 billion, accounting for most of the total relevant tariffs. Previously, the U.S. Supreme Court ruled that certain tariff measures implemented by the Trump administration under the International Emergency Economic Powers Act were invalid, but did not specify a refund mechanism, leaving related issues to be handled by the U.S. International Trade Court. (CCTV News)