Trump administration refunds $100 billion in tariffs struck down by US Supreme Court

Donald Trump's administration has refunded about $100 billion in tariffs after the US Supreme Court struck down a broad set of duties imposed under an emergency economic law, court filings show.About 60 per cent of the $166 billion collected under the tariffs had been refunded by July 31, according to a filing in the US Court of International Trade, cited by REuters. The refunds, including interest, were paid to importers that had originally paid the duties.The tariffs were imposed by Trump under the International Emergency Economic Powers Act (IEEPA), which he used to levy sweeping duties on goods from US trading partners.However, the Supreme Court ruled in February that the law did not give the president the authority to impose such tariffs unilaterally. The ruling forced the administration to return duties that had been collected under the measure.A US Customs and Border Protection official said around $128.68 billion in potential and certified refunds had been accepted for processing as of July 31. Of this, about $100 billion had been completed and sent to the Treasury Department for disbursement.The refunds have gone to importers rather than directly to consumers. Critics have argued that companies may not pass the money back to households through lower prices.Trump has since turned to other legal provisions to impose new tariffs, including measures targeting specific sectors and tariffs imposed under Section 301 of the Trade Act of 1974.Get the latest Business News and Live updates. Download the TOI app.