American importers who paid tariffs the Supreme Court ruled illegal in February are working to secure refunds from the federal government, but the shoppers who paid more likely won’t get their money back.
Two months after the nation’s highest court struck down tariffs President Donald Trump imposed last year under the 1977 International Emergency Economic Powers Act, U.S. businesses who paid those fees can apply for refunds through a new Customs and Border Protection portal. Court filings show those refunds could total roughly $166 billion, with more than 330,000 importers having paid tariffs on more than 53 million shipments.
While companies shouldered much of the tariff costs, at least some were passed to shoppers through higher shelf prices. Still, consumers aren’t likely to see direct refunds or lower prices across the board, according to Jackson Wood, director of industry strategy for Descartes’ Global Trade Intelligence business unit.
“Paying those tariffs blew a giant hole in their profit loss statements, and so recapturing those duty payments is really going to be about making their businesses whole,” Wood said. “It’s unlikely to bring much relief to the U.S. consumer any time soon.”
