US refunds $81B in Trump-era tariffs after court ruling on legality

1 min read
Source: The Guardian
US refunds $81B in Trump-era tariffs after court ruling on legality
Photo: The Guardian
TL;DR Summary

US budget data show it has refunded about $81 billion in tariffs collected before a Supreme Court ruling struck down much of Trump’s tariffs, with most refunds issued in May–June; the refunds followed the court decision, and the deficit has begun growing again to about $1.367 trillion in the first nine months of the year, as interest on the debt and military spending rose amid the Middle East war. The 10% global tariff is due to expire July 24, with the White House weighing new duties over anti-forced labor enforcement and excess capacity.

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