Administration Paid

Government has so far returned $100bn to companies that paid levies US supreme court ruled illegalBusiness live – latest updatesThe Trump administration has refunded about $100bn from the tariffs it collected before the US supreme court ruled them illegal, according to reports.The $100bn (£74bn) figure, which represents 60% of the total $165bn collected from Donald Trump’s “liberation day” tariffs, was reported by customs officials to the US court of international trade (CIT) on Tuesday, according to the Financial Times. Continue reading...

Refunds came after the supreme court ruled Trump overstepped his authority in enacting sweeping tariffsUS importers are expected to receive $85bn in tariff refunds after the supreme court struck down Donald Trump’s tariffs in February, according to US Customs and Border Protection (CBP), the agency that collects tariffs.Importers and shippers have so far been refunded $20bn, according to court documents filed on Tuesday, with about $65bn more on the way. Continue reading...