U.S. Businesses Can Apply for Tariff Refunds Starting Monday
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U.S. businesses that paid tariffs ruled illegal by the Supreme Court can begin applying for refunds on Monday. The Trump administration is launching an online portal for these applications, with a process intended to result in refunds within 60-90 days.
Facts First
- Refund applications begin Monday via a new online portal.
- The Supreme Court overturned sweeping tariffs in February, leading to the refund process.
- Importers must submit a 'CAPE declaration' and provide bank account information.
- The process is intended to result in refunds within 60-90 days of application.
- As of March 4, importers had paid estimated duties of approximately $166 billion.
What Happened
The Trump administration is launching an online portal for tariff refund applications on Monday. This is the first phase of efforts to comply with court orders to reimburse billions of dollars in paid tariffs and interest to importers. The Supreme Court overturned the sweeping tariffs in February, and the Court of International Trade ordered the administration to begin the reimbursements process last month. U.S. Customs and Border Protection (CBP) is launching the Consolidated Administration and Processing of Entries (CAPE) portal through the Automated Commercial Environment (ACE) system.
Why this Matters to You
If your business imported goods subject to these tariffs, you may be eligible for a refund. You will need to create an account on the ACE portal and submit a 'CAPE declaration' along with your bank account information. The refund process is intended to result in payments within 60-90 days of your application. This could represent a significant financial recovery for affected companies.
What's Next
Phase 1 of the refund system is limited to certain unliquidated entries and certain entries within 80 days of liquidation. CBP has issued guidance to the trade community to help them prepare to use the new CAPE tool, and importers and brokers can visit the CBP website for resources and step-by-step guidance. The trade court stated it would consolidate several lawsuits filed in response to the tariffs, which may affect the broader legal landscape surrounding these refunds.