Tag

Tariff Refunds

All articles tagged with #tariff refunds

politics14 days ago•8 min saved

Refunds over headlines: firms quietly chase tariffs back from Trump’s era

After a Supreme Court ruling struck down many Trump tariffs and ordered refunds, more than 26,000 companies signed up for a CBP refund portal, including Apple and Costco, choosing to pursue refunds quietly to avoid provoking Trump. Some firms are still suing to preserve their rights, while others delay or avoid litigation to dodge potential backlash, as the portal handles straightforward claims and disputes emerge over filings.

via Politico|

#politics #supreme-court #tariff-refunds

business26 days ago•3 min saved

Apple’s Tariff Refund Playbook Bets on US Investment

Apple plans to apply for tariff refunds and reinvest any recovered funds into US innovation and manufacturing, signaling a careful balancing act between cost management and political optics that has earned Tim Cook a reputation as a Trump whisperer; other companies like Ford and GM are also pursuing refunds, with funds expected to flow within 60–90 days after processing by US Customs.

via Business Insider|

#apple #business #tariff-refunds

business1 month ago•3 min saved

Tariff refunds spark tough choices for U.S. importers

The Trump administration moved quickly to build a system to reimburse billions of dollars in tariffs, but the White House is now pressuring companies not to seek refunds, leaving importers to decide whether to pass savings to customers or risk political backlash. The refund pool could reach about $165 billion, with roughly 57,000 importers already starting the eligibility process out of an estimated 300,000 who paid tariffs. Costco signaled it would return value to members via lower prices, while some CEOs warn that not filing could invite litigation. The White House has not yet said whether it will appeal a court ruling limiting refunds, and the Supreme Court previously narrowed the tariffs under IEEPA.

via Axios|

#business #cbp #importers

politics1 month ago•1 min saved

Hochul seeks $1,700 tariff refunds for New York families amid federal pushback

New York Gov. Kathy Hochul called on the federal government to issue $1,700 refunds to New York families for tariffs she says cost New Yorkers $13.5 billion, arguing the relief is overdue as a court battle continues. She notes refunds for businesses are being processed by Customs and Border Protection, with funds expected 60–90 days after approval, and warns the Trump administration may delay or shrink refunds.

via WWNY|

#customs-and-border-protection #kathy-hochul #new-york

politics1 month ago•18 min saved

Tariff refunds begin via CAPE portal, but only direct tariff payers qualify

The Trump administration launched CAPE, a tariff-refund portal to return more than $166 billion in tariffs after many were struck down by the Supreme Court; refunds are limited to entities that paid tariffs directly to the U.S. government, meaning most consumers who faced higher prices won’t qualify. The move follows a court ruling to advance the refund process, and Trump continues to pursue tariffs under other authorities despite the limited refunds.

via vox.com|

#cape #politics #tariff-refunds

business1 month ago•2 min saved

US launches CAPE portal to start historic tariff refunds for importers

CBP will begin processing IEEPA tariff refunds via the CAPE portal on the ACE system, with Phase 1 limited to certain unliquidated or near-liquidated entries and a 60–90 day refund window if there are no compliance issues. About 330,000 importers paid roughly $166 billion in duties, but only around 56,500 have enrolled for electronic payment, so early refunds will cover only a subset. The effort faces potential delays, ongoing litigation (including Costco’s suit), and additional phases to address the remaining refunds.

via Axios|

#ace-system #business #cape-portal

business1 month ago•6 min saved

CAPE tariff-refund portal opens for importers, refunds won't be automatic

CBP will launch CAPE on April 20 to let importers of record or their brokers file for refunds of IEEPA tariffs ruled illegal by the Supreme Court; refunds are not automatic and eligibility covers only unliquidated tariffs or those finalized in the past 80 days, potentially totaling up to $175 billion; processing is expected in 60–90 days after approval, though paperwork mistakes can delay payments, and some entities are already offering to purchase claims for quicker cash.

via CBS News|

#business #cape-portal #cbp-processing

business2 months ago•22 min saved

Nintendo Takes the Tariffs Fight to Washington: Seeks Tariff Refunds

Nintendo of America has sued the U.S. government in the U.S. Court of International Trade, seeking refunds with interest for tariffs paid on imports after a Supreme Court ruling found the Trump-era tariffs illegal; the suit targets the Treasury, Homeland Security and Customs and Border Protection, arguing unlawful execution of tariffs harmed the company. Nintendo notes it has already raised prices on the original Switch due to tariffs and warns ongoing tariff policies could affect pricing for its Switch 2 as RAM shortages and other factors come into play.

via Engadget|

#business #donald-trump #nintendo-of-america

business2 months ago•26 min saved

Costco Weighs Tariff Refunds as Q2 Revenue Climbs

Costco is evaluating a potential tariff refund windfall and could pass savings to shoppers if approved, after the Supreme Court struck down the tariffs. The retailer posted second-quarter revenue of $69.6 billion and profit of $2.04 billion, with four new warehouses opened in the quarter and 28 more planned for the year.

via WSJ|

#business #costco #earnings

economy2 months ago•3 min saved

Democrats push roughly $1,700 per household in tariff refunds

Democrats are pressing for about $1,700 per U.S. household in tariff refunds, backed by state governors and a Senate bill to reimburse duties via Customs, arguing tariffs harmed consumers and small businesses after the Supreme Court ruled most tariffs illegal; however, the refund process remains unclear and could take up to 18 months, with funds potentially issued to businesses first and passed along to consumers.

via Axios|

#democrats #economy #small-business

business3 months ago•18 min saved

Tariff Refund Clash Escalates as Courts Eye Payouts

Following the Supreme Court's ruling invalidating much of Trump's tariffs, companies including FedEx, Dyson and L’Oréal have filed lawsuits seeking refunds under the International Emergency Economic Powers Act, with more than $100 billion at stake. The government had previously pledged refunds if Trump lost but now signals a lengthy fight; Treasury Secretary Scott Bessent said refunds could not start for about a month, while roughly 900 claims have been filed in federal court. The outcome could reshape tariff revenues and their effect on U.S. consumers and the economy as courts navigate how and when refunds are issued.

via The New York Times|

#business #ieepa #litigation