Tariff refund process begins

The U.S. tariff-refund process began on April 20, 2026, when U.S. Customs and Border Protection opened the CAPE portal for importers to claim duties the Supreme Court voided. (cbp.gov) Customs rolled out Phase 1 at 8:00 a.m. EDT and thousands of companies rushed to file claims to recover roughly $166 billion in IEEPA duties. (money.usnews.com) Major shippers including UPS, FedEx and DHL have begun submitting CAPE declarations where they were the importer of record and say they will repay customers who were charged the levies. (cnbc.com) Individual consumers cannot submit CAPE claims; refunds must flow to importers of record or their brokers, which makes pass‑through to end buyers legally and operationally complex. (nbcwashington.com) The timing and technical limits of Phase 1 matter because many companies will need cash, documents and reconciliations to claim refunds, complicating near‑term pricing and working-capital planning. (law.com) Advisers and deal teams say the uncertainty over who ultimately keeps or recovers tariff cash will change cross‑border due diligence and alter deal mechanics such as purchase‑price adjustments and escrow holds. (nortonrosefulbright.com) The legal trigger for refunds was the U.S. Supreme Court’s February 20, 2026 decision in Learning Resources v. Trump, which held the International Emergency Economic Powers Act does not authorize the tariffs. (supremecourt.gov) CBP says Phase 1 will process unliquidated entries and entries liquidated within about the prior 80–90 days and that accepted CAPE declarations will generally be paid within 60–90 days; President Trump on April 21 publicly said he would “remember” companies that choose not to seek refunds. (cbp.gov) (cnbc.com)