The administration repaid 60% of tariff revenue collected under disputed trade policies following a Supreme Court decision.
The US government has refunded $100bn in tariffs to businesses, accounting for 60% of revenue collected under the so-called ‘Liberation Day’ policy. The repayments follow a February Supreme Court ruling that deemed the broad import duties unlawful, prompting customs officials to process refunds through court filings.
Nearly $29bn in potential refunds remains under review by trade authorities, while $1.6bn is stalled due to missing importer banking details. The policy had generated significant revenue but faced legal challenges over its legality.
The US Dollar Index (DXY) showed a slight decline, trading 0.03% lower near 99.66 as of the latest update.