Tag

Ieepa

All articles tagged with #ieepa

business12 days ago•3 min saved

Court Upholds Trump’s Closure of the De Minimis Tax-Free Gap

A federal trade court upheld President Trump's elimination of the de minimis exemption, which allowed low-value goods to enter the U.S. duty-free. The court ruled that the IEEPA authorizes scrapping the exemption and that the action does not involve the purse or legislate, distinguishing it from other challenged measures. The decision could raise import tax revenue and affect shoppers who relied on the loophole, with Trump calling it a big win.

via CNBC|

#business #court-of-international-trade #de-minimis

politics-and-government17 days ago•20 min saved

Illinois lawmaker pushes for consumer cash as tariff refunds top $100B

A U.S. CBP filing shows roughly $100 billion in tariff refunds have been completed and sent to the Treasury, about 60% of the $166 billion owed to importers under the IEEPA scheme, with refunds totaling around $100 billion and processing for add'l refunds ongoing via the CAPE portal. While importers receive refunds, shoppers have borne most of the cost through higher prices. Illinois Gov. JB Pritzker has pressed President Trump for direct household payments (about $1,700 per person) and backed the Tariff Relief for Consumers Act to require corporations receiving large refunds to pass relief to consumers. The article notes the Supreme Court deemed the tariffs illegal, refunds began after CAPE's rollout, and small-businesses and states have challenged the duties in court.

via Yahoo Finance|

#cape-portal #consumer-refunds #ieepa

business18 days ago•17 min saved

Illinois Seeks Direct Consumer Tariff Refunds as U.S. Reimburses $100B

The Trump-era tariffs have refunded about $100 billion so far—roughly 60% of what the government says is owed—with the CAPE portal processing over 252,000 refund declarations and total refunds expected around $166 billion. Refunds have gone to importers (Nike and Amazon among the largest), while shoppers have borne most of the cost through higher prices; estimates place average household tariff payments around $1,000 to $2,000. Illinois Gov. JB Pritzker has urged direct consumer payments and backed a Tariff Relief for Consumers Act to require rebates to shoppers as tariff-related litigation continues.

via WWD|

#business #cape #consumers

politics-and-government19 days ago•20 min saved

US refunds $100B in 'Liberation Day' tariffs after Supreme Court ruling

US customs has refunded about $100 billion of the so-called “Liberation Day” tariffs to hundreds of importers, roughly 60% of all tariffs collected under the program; about $165 billion has been collected in total, with around $29 billion still under review and roughly $1.6 billion not processed due to importers not providing banking details. A refunds portal opened in April after a February Supreme Court ruling found the tariffs unlawful because they exceeded Congress’ authority; the tariffs were imposed under the International Emergency Economic Powers Act (IEEPA). Despite refunds, the policy has burdened domestic businesses and consumers, with some companies like Amazon reportedly receiving refunds to offset prices, though actions are at corporate discretion. Trade authorities say refunds will continue as more eligible claims are processed.

via Yahoo Finance|

#ieepa #liberation-day #politics-and-government

politics19 days ago•1 min saved

Trump Admin Completes $100B Tariff Refund After Supreme Court Ruling

The Trump administration says it has completed about $100 billion in refunds of tariffs collected before the Supreme Court struck them down, using a processing component, and notes this represents more than half of the $166 billion originally tariffed. The refunds have faced criticism that they go to corporate importers rather than households, while tariffs imposed under different authorities are being challenged in court.

via NBC News|

#ieepa #politics #refunds

business20 days ago•7 min saved

Trump administration issues $100B in tariff refunds after Supreme Court ruling

The Trump administration has refunded roughly $100 billion in tariffs to businesses via US customs—about 60% of collected tariff revenue—after a Supreme Court ruling found broad import taxes unlawful; about $29 billion remains under review and $1.6 billion is pending banking details, with importers who paid tariffs eligible for refunds (Amazon reportedly received ~ $600 million). Refunds are expected to grow as claims are processed, while post-ruling policy shifts included a temporary 10% universal tariff later replaced by new tariffs on dozens of partners, including Canada.

via BBC|

#business #ieepa #refunds

politics20 days ago•2 min saved

Trump-era tariffs get a $100B refund after court voids 2025 IEEPA duties

The Trump administration has refunded about $100 billion of IEEPA-based tariffs collected in 2025 after the Supreme Court ruled the levies unauthorized, accounting for roughly 60% of the $166 billion initially collected. Refunds are being processed through CBP’s CAPE system, with more than 252,000 refund declarations covering over 25 million import entries already in hand, while the effort faces ongoing legal challenges and the administration looks to re-create tariff authorities via other means.

via CNBC|

#cape #ieepa #politics

business-and-economy21 days ago•2 min saved

States sue over Trump’s new global tariffs, alleging overreach and pretext

A group of 25 Democratic-led states filed a lawsuit in the U.S. Court of International Trade challenging the Trump administration’s new double-digit tariffs on about 60 trading partners, arguing the levies use a forced-labor pretext to reimpose tariffs previously ruled illegal by the Supreme Court. The White House defends the measures as a legal response to unfair practices, while critics say the authority under IEEPA/Section 301 does not justify the new tariffs, which followed expired temporary tariffs and affect a broad swath of imports.

via Al Jazeera|

#business-and-economy #forced-labor #ieepa

business1 month ago•7 min saved

Trump to roll out broad forced-labor tariffs after Supreme Court setback

The Trump administration plans permanent new tariffs tied to forced-labor concerns, potentially covering about 60 countries, to replace temporary measures invalidated by the Supreme Court. Using Section 301 and other authorities, the move expands the president’s tariff toolkit to boost domestic manufacturing, though critics warn it could fuel inflation and disrupt markets as investigations into overcapacity proceed.

via The Washington Post|

#business #forced-labor #ieepa

business1 month ago•16 min saved

June tariff refunds surge to nearly $50B as US payout accelerates

US Treasury data show tariff refunds to businesses jumped to about $49.1 billion in June, accelerating after the Supreme Court struck down broad Trump-era tariffs and a refunds portal opened in late April. June refunds far outpaced tariff revenue for the period (~$23.6B; May was ~$21.9B on both sides of the ledger). An estimated $166 billion in tariffs (plus interest) could be eligible for refunds, with the refund program expanding exposure to more scenarios and exemptions. The broader budget picture remains weak, with sizeable deficits likely to continue this year.

via Yahoo Finance|

#business #deficit #ieepa

legal-news3 months ago•13 min saved

Sony Faces Class Action Over Tariff Windfall on PS5

A California federal class action accuses Sony Interactive Entertainment of retaining a windfall from IEEPA tariffs and seeks refunds from CBP passed to PS5 buyers after a Supreme Court ruling that the tariffs were unlawful. Plaintiffs contend Sony raised PS5 prices by up to $200 between Aug 2025 and Apr 2026 to offset the tariffs, and that the refunds would amount to a double-dip if kept by Sony; the nationwide class covers PS5 buyers from Aug 1, 2025 to present. The suit was filed May 6, 2026 and mirrors a recent Nintendo-related case.

via Kotaku|

#ieepa #legal-news #playstation-5

business3 months ago•15 min saved

Tariff Refunds: A Slow, Unequal Recovery After the Court Ruling

The Supreme Court invalidated roughly $166 billion in IEEPA tariffs, but refunds are far from automatic. The CAPE system requires about 330,000 importers to file detailed, entry-by-entry claims, with many entries excluded and refunds potentially delayed 60–90 days per importer. Large firms and Wall Street buyers may win, while small importers, nonprofits, and taxpayers shoulder higher costs and delayed relief; consumer refunds are unlikely. The process risks ongoing uncertainty as the government weighs appeals, and total interest on overdue refunds could amount to several billions. In short, the refunds are likely to be slower, smaller, and more uneven than advocates hoped, underscoring the policy’s chaotic legacy.

via The Dispatch|

#business #cape #ieepa

business4 months ago•304 min saved

US tariff refunds begin via CAPE portal in phased rollout

Two months after the Supreme Court struck down President Trump’s tariffs, the U.S. kicks off a phased process to reimburse importers—about $166 billion plus interest—through the CBP’s Consolidated Administration and Processing of Entries (CAPE) portal. In the first phase, only importers of record (or their brokers) with eligible tariff payments can apply, and refunds are expected within 60–90 days after approval, though longer if additional reviews are needed or if the administration takes steps to shrink refunds.

via CNN|

#business #cape #cbp

economy4 months ago•5 min saved

Court weighs Trump's global tariffs after Supreme Court setback

A U.S. Court of International Trade hearing in New York is considering overturning President Trump's temporary global tariffs after the Supreme Court ruled IEEPA could not justify them; Trump may rely on Section 122 of the Trade Act of 1974, which would allow up to 15% global tariffs for 150 days with congressional approval, but questions remain about its applicability to trade deficits and the tariffs' July 24 expiration.

via PBS|

#court-of-international-trade #economy #ieepa

politics4 months ago•7 min saved

White House splits on path to 50% Iran-tariffs plan

White House advisers clash over how to implement a threatened 50% tariff on countries that supply weapons to Iran, with Kevin Hassett arguing IEEPA emergency powers could justify action in a state of conflict while Jamieson Greer cautions IEEPA cannot authorize peacetime tariffs and other tools would be needed; the Supreme Court previously limited IEEPA’s tariff authority, leaving the plan legally uncertain and likely to face court challenges as the administration pursues other tariff powers.

via Politico|

#ieepa #politics #supreme-court