U.S. refunds $100 billion in tariff payouts

The Trump administration said on August 5 that it had refunded about $100 billion in tariff payments collected under President Donald Trump’s 2025 “Liberation Day” duties. The figure appeared in a filing in the U.S. Court of International Trade and covers repayments processed through the end of July, according to CNBC and Reuters-based reports. The refunds follow the Supreme Court’s February 20 ruling that the International Emergency Economic Powers Act, or IEEPA, did not authorize the president to impose those tariffs. The repayments have reopened a question that companies, shoppers and trade lawyers have been arguing over for months: who ultimately bore the cost of the duties, and who benefits when the money comes back. ### Where did the $100 billion number come from? A Tuesday court filing by U.S. customs officials said “refunds (duties plus interest) of approximately $100 billion” had been completed and sent to the Treasury for disbursement. CNBC reported that amount represented about 60% of the roughly $166 billion the government said it collected under the IEEPA tariff program. Reuters-based coverage carried by U.S. News reported the same figure and said it reflected payments completed by the end of July. (cnbc.com) February 20 is the key legal date behind the repayments. The Supreme Court, in Learning Resources, Inc. v. Trump and Trump v. V.O.S. Selections, Inc., ruled 6-3 that IEEPA does not give the president tariff authority, according to a Congressional Research Service summary and legal analyses published after the decision. That ruling invalidated the “Liberation Day” tariffs that had been imposed in April 2025 under emergency powers. (cnbc.com) ### Who is getting the money back? U.S. Customs and Border Protection has said the refunds go to importers of record, not to households or retail customers. CBP’s IEEPA refund page says the agency launched CAPE functionality inside the Automated Commercial Environment, or ACE, so businesses and brokers can submit valid refund requests authorized by court order or law. ABC News reported that businesses can apply through that online portal as the government continues processing claims. (congress.gov) CNN reported that some of the biggest beneficiaries include large importers. Apple received an estimated $2.2 billion tariff refund last quarter, Amazon got about $600 million and Nike got about $300 million, according to CNN’s August 5 report. CNN said it remained unclear how much of the tariff cost those companies had already passed on to consumers through higher prices. (cbp.gov) ### Why are consumers asking, “Where’s my cut?” CNN’s question reflects the structure of the tariff system. Importers paid the duties at the border, so they are the entities receiving refunds from CBP. But companies had spent months warning investors and customers that tariffs were raising their costs, and in many cases those costs were folded into prices, fees or lower discounts, CNN and USA Today reported earlier this year. (localnews8.com) No public accounting has yet shown how much of the refunded money will flow back to shoppers. That gap is central to the political and consumer backlash around the repayments, according to NBC News, which reported that critics say the refunds are going to companies rather than households. ### Are the refunds changing the reshoring story Trump promoted? (localnews8.com) Fortune reported that some companies are being pushed back toward China rather than toward U.S. reshoring. Economist Mary Lovely told Fortune that “Manufacturing is not coming back,” and Yahoo Finance’s pickup of the report said companies returning to China for some goods may reflect the continued U.S. dependence on Chinese trade. (nbcnews.com) Kearney’s 2026 Reshoring Index said direct imports from mainland China fell, but combined imports from 14 Asian low-cost countries and regions, including China, rose by $60 billion in 2025 while U.S. manufactured-goods output slipped slightly. That suggests sourcing shifted across Asia more than it moved decisively into U.S. factories, according to the index. (finance.yahoo.com) ### What happens next in the refund process? July 15 is the next important milestone in the court fight. Holland & Knight and other trade-law updates said the Court of International Trade began issuing orders in roughly 3,700 pending IEEPA cases directing CBP to refund duties on certain finally liquidated entries for importers that sued. CBP’s refund page says claims continue through the CAPE system, and the agency has warned importers to watch for scams tied to the process. (kearney.com) U.S. Customs and Border Protection says refund requests must be filed through ACE and are issued electronically through ACH in most cases. The next concrete measure will be updated court filings and CBP disclosures showing how much of the remaining roughly $66 billion has been certified, processed and disbursed. (cbp.gov) (hklaw.com)