US trade-fraud crackdown hits $1B in recoveries

The Trump administration’s trade-fraud task force, launched less than a year ago, says it has recovered more than $1 billion in penalties, settlements, restitution and other recoveries from criminal and civil cases, with about $150 million of that total tied to pending actions. Led by the Justice Department and Homeland Security, the crackdown accompanies a tariff push (rates up to 50% in some cases) and follows a Supreme Court ruling limiting presidential authority to impose tariffs. Investigators note methods like misreporting goods’ value, falsifying origins and routing shipments through lower‑tariff countries; a jewelry importer case alone involved $13.6 million in missing tariff revenue. Goldman Sachs analysts have estimated tariff evasion could affect over $200 billion of US imports and reduce tariff revenue by about $40 billion long term if enforcement remains strong. The task force plans to continue pursuing cases across sectors.