1 of 2 | President Donald Trump announced global tariffs more than a year ago, saying they would drive revenue and reset global trade more favorably for the United States. The revenue generated by those tariffs will be refunded with interest. File Photo by Jim Lo Scalzo/UPI | License Photo
April 20 (UPI) -- The Trump administration will begin refunding $166 billion the government collected through tariffs, the Supreme Court ruled illegal.
The administration is beginning the first steps toward issuing refunds on Monday, using the Consolidated Administration and Processing of Entries program. Refunds are expected to be issued within 60 to 90 days of approval, U.S. Customs and Border Protection says.
President Donald Trump announced global tariffs more than a year ago, saying they would drive revenue and reset global trade more favorably for the United States. The revenue generated by those tariffs will be refunded with interest.
More than 330,000 importers had paid tariffs under the International Emergency Economic Powers Act as of March, creating more than 53 million documented entries, the White House said.
