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The U.S. tariff refund system is now live, and thousands of companies have submitted applications.
A refund system established to allow businesses to recover illegally collected tariffs from the U.S. government officially went live on the morning of April 20th, Eastern Time. The system was created by U.S. Customs and Border Protection under a court order, aiming to refund importers up to $166 billion in taxes. In February this year, the U.S. Supreme Court overturned a tariff policy implemented by President Donald Trump based on a law originally used for national emergencies. According to court documents, as of April 9th, 56,497 importers had completed the necessary steps to receive electronic refunds, totaling $127 billion, accounting for more than three-quarters of the total amount to be refunded. (CCTV News)