Trump faces $149B tariff refunds

The Supreme Court’s February 20 ruling against tariffs imposed under the International Emergency Economic Powers Act did not end the story for U.S. importers. Three months later, companies are still trying to get their money back, and some small businesses say the delay has already shaped hiring, pricing and inventory decisions. (opb.org) Donald Trump, who built much of his trade agenda around those tariffs, has made clear he is angry about the refunds now due. Customs and Border Protection has opened a claims process, but the scale of the task is large and the politics are now attached to the paperwork. (cbp.gov) ### What exactly did the Supreme Court strike down? On February 20, 2026, the Supreme Court held in *Learning Resources, Inc. v. Trump* and *Trump v. V.O.S. Selections, Inc.* that IEEPA does not authorize a president to impose tariffs. Congressional Research Service and law-firm summaries say the ruling invalidated tariffs Trump had imposed under that emergency-powers statute, including the 2025 “reciprocal” tariffs and other IEEPA-based duties. The Court’s decision answered the legal question, but it left the government to unwind duties already collected. Skadden said last month that the Court of International Trade had ordered CBP to refund unlawfully collected IEEPA duties and that the agency was building an automated refund system to do it. (congress.gov) ### Why are businesses still waiting if the tariffs were already voided? Customs and Border Protection says importers of record and authorized customs brokers must use an ACE Secure Data Portal account and submit CAPE declarations to request refunds. The agency also says claimants must provide bank account information and enroll in ACH refunds through the portal. (congress.gov) More than 330,000 importers paid the duties across more than 53 million entries, according to Skadden’s April analysis of the refund mechanism. That same analysis said the size of the refund effort and the possibility of further litigation could slow payments. (skadden.com) ### What are small importers saying the delays have done to them? Portland businesses told Oregon Public Broadcasting on May 21 that the tariffs and the slow refund process have disrupted basic operating decisions. OPB reported that some firms said the duties affected hiring, pricing and inventory planning months after the Court ruling. (cbp.gov) A separate KGW report from March described one Portland company that said it had paid about $600,000 in tariffs and was still trying to determine how to recover those payments. The station said Oregon Senator Ron Wyden criticized Trump’s tariff policies as price-hiking. (skadden.com) ### How big is the refund bill now? Yahoo Finance reported on May 22 that Trump complained about having to return $149 billion after the ruling. Other reports and trade-law analyses have put the potential refund exposure in a similar range, though some estimates run higher, including roughly $165 billion to $166 billion depending on the methodology and timing. (opb.org) CBP’s own public guidance does not state a total refund figure on the page describing the CAPE process. The agency’s page focuses instead on how importers should file claims through ACE. (kgw.com) ### What has Trump said about the refunds? Trump told Fortune on May 18, in comments reported by Yahoo Finance, that “it really pisses me off” that the government must return tariff money after the Court’s decision. Yahoo said Trump indicated he believed tariffs could be rebuilt under other statutory authorities, though more slowly. (finance.yahoo.com) Politico reported earlier this month that some companies were seeking refunds quietly because they did not want to provoke Trump’s public criticism. Politico said Trump had warned he would “remember” companies that did not collect their refunds. (cbp.gov) ### What happens next for importers trying to get paid? CBP says the next step is procedural, not judicial: importers or their brokers must maintain ACE Portal access, submit CAPE declarations and set up ACH payment details. That makes the agency’s refund portal the main channel for companies still trying to recover duties collected under the voided tariffs. (finance.yahoo.com) As of May 22, the practical timeline still depends on claim processing through CBP’s system and on whether more litigation or policy changes alter the refund process. For now, the named participants are the importers, their customs brokers and CBP officials running CAPE through the ACE Portal. (politico.com) (cbp.gov)