According to CCTV News, on May 4, local time, US Customs and Border Protection (CBP) stated that the first batch of electronic refunds for tariffs deemed illegal by the US Supreme Court is expected to begin as early as May 12.
CBP notified freight companies that the refunds will be paid through an automated clearing system, through which companies can check the progress of their refunds. Previously, the US Court of International Trade expected the refunds to begin on May 11, but this has now been delayed by one day, without explanation.
It is understood that the tariffs involved in the refunds could amount to up to US$166 billion, levied under the International Emergency Economic Powers Act. The US Supreme Court has ruled that the Trump administration's use of this act to impose tariffs was "beyond its authority."
Related News:
Trump's 25% tariff threat on EU cars sparks alarm in Germany's manufacturing sector
Comment