The US government has refunded tens of billions of dollars in collected tariffs after the Supreme Court struck down a major portion of President Donald Trump's extra tariffs ordered, marking a significant setback for one of his flagship economic policies. Newly released Treasury budget figures show the refunds surged following the court's ruling, wiping out much of the revenue generated by the contested tariffs.

Government had been forced to pay back duties to companies that imported goods into the US that were hit by Trump’s tariffs

The US has refunded $81 billion in tariffs after the Supreme Court ruled Trump's IEEPA levies illegal, deepening a $1.367 trillion deficit hole.