The U.S. government will begin refunding the $166 billion in tariffs imposed during the Trump era.

Mars Finance News: On April 20, the Supreme Court previously ruled that the tariff policy was illegal, and the U.S. government will initiate a refund process starting April 20. Companies can submit applications through a new customs system to recover tariffs previously levied under emergency powers. The court determined that only Congress has the authority to impose tariffs, forcing the government to revoke the policy. It is estimated that over 330k importers involving 53 million shipments may be eligible for refunds. Once approved, refunds and corresponding interest will be paid within 60 to 90 days, although the review process for complex cases may take longer. Officials involved have warned that this refund process is large-scale and quite complex, but the funds will be paid directly to the companies that originally bore the tariffs.