According to estimates by the US Customs Authority, it is around 166 billion US dollars.
With the launch of a new online portal, the US government has begun the process of refunding tariffs that the country’s highest court has ruled unlawful. Since Monday, importers have been able to submit requests for reimbursement using the system called CAPE.
According to estimates by the US Customs Authority, it is around 166 billion US dollars. Previous calculations by the University of Pennsylvania even put the figure at up to $175 billion – around 2.5 percent of the US budget.
Only those companies that have paid the customs duties directly are entitled to the refunds. It is unclear whether and to what extent consumers benefit indirectly, for example through falling prices. In the first phase, customs cases that have not yet been finally examined or have recently been completed will be processed. Older cases will follow at a later date. According to media reports, thousands of companies submitted applications when the system was launched. According to authorities, approved repayments could be made within 60 to 90 days.
Citing an emergency law from 1977, US President Donald Trump had imposed tariffs on numerous trading partners bypassing Congress since the beginning of his second term in office. The Supreme Court declared this illegal in a landmark decision in February. A judge at the Court of International Trade in New York then ruled that importers are generally entitled to refunds for customs duties that have already been paid.
A wave of repayments was already expected after the verdict. Numerous companies, including the US logistics company Fedex, had filed lawsuits to enforce repayments. Experts had warned that the large number of expected applications could cause chaos. (APA)
