Trump Administration Refunds $100 Billion in Tariffs

The Trump administration has refunded approximately $100 billion in tariffs collected under the 'liberation day' policy, according to reports. This refund accounts for roughly 60% of the total $165 billion accrued from the tariffs before they were deemed illegal by the US Supreme Court.

Customs officials communicated this $100 billion figure to the US Court of International Trade, as reported by various outlets. The refunds follow a significant court ruling that invalidated the legality of these tariffs, which were originally implemented by the Trump administration.

With billions still pending for repayment, the administration's actions aim to address the fallout from the court's decision regarding the tariffs.