Trump tariff refunds begin but consumers likely to miss out

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Businesses can apply online through a portal for refunds expected to total $160bn.

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In what is to be the biggest repayment programme in history, companies can apply online for money they were charged under the so-called "Liberation Day" tariffs - plus interest - to be returned.

The US Court of International Trade in March ordered customs officials to refund the more than $160bn (£121bn) the government had collected, putting roughly 330,000 importers in a position to potentially win back some money.

But some individual consumers, who were hit by the tariffs indirectly through higher prices, are not expected to be compensated.

The refunds relate to levies charged by US President Donald Trump under the International Emergency Economic Powers Act (IEEPA).

"All importers of record whose entries were subject to IEEPA duties are entitled to the benefit" from the high court's ruling, Judge Richard Eaton wrote in March.

As of early April, more than 56,000 importers had completed the necessary steps to apply for refunds online when the portal opened, with their claims worth $127bn (£943m).

The portal, known as the Consolidated Administration and Processing of Entries (Cape), went live on Monday.

A Customs and Border Protection spokesperson said Cape had been built to "efficiently process refunds".

The system will process refunds for importers as one lump sum, rather than making businesses apply item by item.

Customs and Border Protection said successful applicants can expect refunds, as well as any applicable interest, to be paid in 60 to 90 days.

A major issue with the process has been concerns raised by individual shoppers who faced higher prices as a result of Trump's tariffs yet have no means to claim compensation themselves.

One way in which consumers could be compensated is by businesses disbursing any funds recouped from Customs and Border Protection to those affected, though few have announced plans to do so.

Individuals have begun filing class action lawsuits against companies they claim passed on the cost of

Source: BBC

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