U.S. refunds $100B in tariffs

The Trump administration said on August 5 that it had refunded about $100 billion in tariff revenue collected under President Donald Trump’s 2025 “liberation day” duties, according to a court filing reported by CNBC and ABC News. The refunds follow a Supreme Court ruling in February that struck down a large share of those tariffs, which had been imposed under the International Emergency Economic Powers Act. Customs officials told the U.S. Court of International Trade that the government had returned more than half of the money owed to importers. The filing put the refunded amount at about 60% of the roughly $166 billion the government collected under the program. ### How did the refund bill get this large? The $166 billion total came from sweeping tariffs Trump imposed in 2025 using emergency powers, according to the court filing cited by CNBC. After the Supreme Court invalidated much of that regime in February, businesses that had paid the duties became eligible for refunds. ABC News reported that companies ranging from Amazon to smaller importers said payments had started arriving in their accounts through the end of July. (cnbc.com) The court filing said the $100 billion already returned covered only part of the government’s potential and certified refund obligations. Al Jazeera, citing the same filing, reported that customs officials had identified a larger pool of tariff revenues subject to repayment, indicating that additional claims remain under review. (cnbc.com) ### Why are states suing if the government is already paying refunds? Twenty-five states sued the Trump administration on August 3 over a newer round of tariffs, arguing that the latest duties unlawfully replaced import taxes already rejected by the courts. CNBC reported that the lawsuit challenges tariffs of 10% or 12.5% on goods from 60 trading partners. AP, carried by U.S. News and NBC News, said the states called the new measures a “pretext” for restoring tariffs the Supreme Court had struck down. (aljazeera.com) The states filed the case in the U.S. Court of International Trade, according to CBS News and Time. Time listed the states joining California in the case, including New York, Illinois, Massachusetts, New Jersey and Washington. ### Why did copper start piling up at U.S. ports? More than 200,000 tonnes of copper were shipped into U.S. ports in July as traders moved to get ahead of expected levies, according to South China Morning Post. (cnbc.com) The report said importers were front-loading shipments because they expected tariff action and wanted to lock in pre-tariff pricing. SCMP described the July inflow as unusually large and tied it directly to uncertainty over the administration’s next trade steps. (cbsnews.com) S&P Global reported that Trump announced on July 30 a 50% tariff on some copper products that was narrower than some traders had expected. That decision, S&P Global said, excluded raw material imports and changed market expectations for U.S. smelters and miners. (scmp.com) ### What does this change for companies buying hardware and industrial inputs? Tariff litigation and rapid policy changes have left importers dealing with two moving targets at once: repayment for old duties and exposure to new ones. The refund process shows how much money had already been tied up in the earlier tariff regime, while the states’ lawsuit and the copper rush show that companies still expect abrupt changes in trade costs. (spglobal.com) For buyers of network gear, industrial equipment and metal-intensive hardware, the next milestones are already on the calendar. The states’ challenge is now before the U.S. Court of International Trade, and customs filings will determine how much of the remaining tariff money is returned to importers. (cnbc.com 1) (cnbc.com 2)