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The U.S. government has officially appealed the tariff refund ruling
The outcome of the appeal concerns approximately $166 billion in tariff revenue collected from U.S. importers during the Trump administration, and the ongoing tariff refund process may be affected.
According to the Supreme Court ruling, U.S. International Trade Court judges ruled on March 4 that Customs and Border Protection cannot conduct tariff settlements under the provisions of the U.S. International Emergency Economic Powers Act.
This means that tariffs previously collected from importers under that law must be refunded.
According to Customs and Border Protection, as of March 4, more than 330k importers had prepaid or paid a total of about $166 billion in tariffs.
A legal document submitted by the agency recently shows that as of May 22, the agency had accepted about $85 billion in tariff refund applications and had requested the Treasury Department to refund about $20.6 billion.
(CCTV News)