Should the Trump administration lose in the courts and be forced to refund “American” businesses, they are committed to pay interest on the refunds, they informed the courts. Judges have already signaled a willingness to fast-track the process, as we predicted would happen in our report on the Tariff ruling on page 2. In addition to the refunds for U.S. companies, foreign companies are also lining up for their cut of the SCOTUS plunder. Estimates top out at $170 as far as revenues collected through the tariffs so far.
Trump Administration Says It Will Pay Interest on Tariff Refunds – dailysignal.com
The Trump administration will pay interest on refunds for global tariffs if ordered to do so, according to a court filing on Wednesday.
U.S. officials have not committed to full refunds on the money collected from tariffs, as President Donald Trump has said he would find other laws to continue his tariffs. However, litigation and negotiations are continuing on multiple fronts.
This comes less than two weeks after the Supreme Court ruled 6-3 that Trump could not use the International Emergency Economic Powers Act, a national emergency law, to impose tariffs.
Brandon Lord, executive director of the trade programs at U.S. Customs and Border Protection, wrote in the filing with the U.S. Court of International Trade, “In accordance with applicable law, any validated refund of IEEPA duties would include interest.”
Since Trump imposed the tariffs in a “liberation day” announcement, the U.S. government has collected about $170 billion in tariffs, according to Bloomberg News.
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