Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleA new report reveals the Trump administration inflated the value of its tariff refunds by over $10 billion. U.S. Customs and Border Protection (CBP) confirmed that approximately $20.6 billion in refunds are currently being processed for importers. An earlier estimate of $35.5 billion was found to be overstated by about $10 billion due to an "inadvertent error" in the data query, with the correct figure closer to $25 billion. These refunds stem from a Supreme Court ruling that struck down the president's authority to impose global tariffs, paving the way for billions in compensation. Economists have indicated that American companies and consumers largely paid for these tariffs, with the refunds primarily benefiting importers rather than individual consumers. In fullReport on how much of Trump tariffs have been refunded was overstated - by $10 billionThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Importers’ tariff refunds have been overstated by billions due to ‘inadvertent error’
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleA new report reveals the Trump administration inflated the value of its tariff refunds by over $10 billion. U.S. Customs and Border Protection (CBP) confirmed that approximately $20.6 billion in refunds are currently being processed for importers. An earlier estimate of $35.5 billion was found to be overstated by about $10 billion due to an "inadvertent error" in the data query, with the correct figure closer to $25 billion. These refunds stem from a Supreme Court ruling that struck down the president's authority to impose global tariffs, paving the way for billions in compensation. Economists have indicated that American companies and consumers largely paid for these tariffs, with the refunds primarily benefiting importers rather than individual consumers. In fullReport on how much of Trump tariffs have been refunded was overstated - by $10 billionThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
