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How the US Government Plans to Refund Billions in Tariffs
Skip to content BloombergConnecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world For CustomersBloomberg Anywhere Remote LoginSoftware UpdatesManage Products and Account Information SupportAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000 CompanyAboutCareersInclusion at BloombergTech at BloombergPhilanthropySustainabilityBloomberg Beta CommunicationsPress AnnouncementsPress Contacts FollowFacebookInstagramLinkedInYouTube ProductsBloomberg Professional ServicesBloomberg TerminalDataTradingRiskComplianceIndices Industry ProductsBloomberg LawBloomberg TaxBloomberg GovernmentBloombergNEF MediaBloomberg MarketsBloomberg TechnologyBloomberg PursuitsBloomberg PoliticsBloomberg OpinionBloomberg BusinessweekBloomberg Live ConferencesBloomberg RadioBloomberg TelevisionNews Bureaus Media ServicesBloomberg Media DistributionAdvertising CompanyAboutCareersInclusion at BloombergTech at BloombergPhilanthropySustainabilityBloomberg Beta CommunicationsPress AnnouncementsPress Contacts FollowFacebookInstagramLinkedInYouTube ProductsBloomberg Professional ServicesBloomberg TerminalDataTradingRiskComplianceIndices Industry ProductsBloomberg LawBloomberg TaxBloomberg GovernmentBloombergNEF MediaBloomberg MarketsBloomberg TechnologyBloomberg PursuitsBloomberg PoliticsBloomberg OpinionBloomberg BusinessweekBloomberg Live ConferencesBloomberg RadioBloomberg TelevisionNews Bureaus Media ServicesBloomberg Media DistributionAdvertising BloombergConnecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world For CustomersBloomberg Anywhere Remote LoginSoftware UpdatesManage Contracts and Orders SupportAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000 Trump’s Tariffs:Big Take PodcastWhen the Supreme Court struck down President Trump’s tariffs, it triggered a $166 billion refund process. On today’s Big Take podcast: the logistics of that payout and how soon businesses can expect relief. DO NOT USE Photo Illustration by Justin MetzPhotographer: Photo Illustration by Justin Metz April 30, 2026 at 9:40 PM UTC Never miss an episode. Follow The Big Take daily podcast today.The US government is required to pay back $166 billion in revenue it collected as part of sweeping global tarif...
How upcoming tariff refunds may affect U.S. businesses and ... - PBS
One of the many uncertainties clouding the U.S. economic picture is tariffs — both the prospect of new ones and upcoming refunds from those struck down by the Supreme Court. Stephanie Sy speaks with Jay Foreman, CEO of the toy maker Basic Fun!, for more on his company’s efforts to claim tariff refunds.Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors. Geoff Bennett: Among the many uncertainties clouding the U.S. economic picture are tariffs, both the prospect of new ones and upcoming refunds from recent tariffs deemed illegal. And there are a number of questions for businesses and consumers alike.Our Stephanie Sy has more. Stephanie Sy: In February, the Supreme Court struck down the sweeping tariffs imposed by President Trump under the International Emergency Economic Powers Act. Now businesses are scrambling to get their money back.Last week, U.S. Customs and Border Protection started accepting refund claims for $166 billion in tariffs collected over the past year, including from companies such as Basic Fun!, which sells toys familiar to many of us Tonka trucks, Care Bears and Lite-BriteThe CEO, Jay Foreman, joins me now.Jay, great to have you back on the "News Hour."So, how much money are you owed? And tell us what the process has been like to claim the refund. Jay Foreman, CEO, Basic Fun!: Sure.Well, if all goes well, we have got $7.4 million coming back to us, which we will use to reinvest in our business and our employees. So far, I have to say the process has been smooth. The CBP set up the portal. The portal operated pretty well. Couple glitches here and there last Monday when we were able to start loading everything in, but we have got all our invoices and claims loaded.And all we're doing is waiting for the magic day when they push the button and actually the money starts to flow back in the form of refunds. That's -- at this point, that's what we're waiting for. Everything else is locked and loaded. Stephanie Sy: Do you have any idea when that button is going to get pushed? And how does it come out? Is it just all in one lump sum? Jay Foreman: We believe that somewhere in the next 45 to 60 days, maybe 90 days at most, but we haven't been told. There's no posting on the portal that tells you when to expect those refunds to come in. And we're really not sure whether they're going to come in, it's all going to come in one shot or it's going to sort of dribble in invoice by invoice.So we have...
US companies are getting massive tariff refunds. Will prices go down?
Court filings show those refunds could total roughly $166 billion, with more than 330,000 importers having paid tariffs on more than 53 million shipments.
CBP could issue tariff refunds starting May 11, documents show
The federal government is expecting to issue the first refunds of President Trump's invalidated tariffs on or about May 11, according to new court documents. U.S. Court of International Trade ...
