Tariffs being treated as permanent
Many U.S. firms are starting to treat import tariffs as a long-term business cost rather than a short-term tactic, a PwC survey reported by Fortune found. Washington is also moving to ease the fallout: the administration will launch a tariff-refund system on April 20 to repay American importers some of the roughly $166 billion they paid under duties later struck down by the Supreme Court as unlawful. (fortune.com; reuters.com)
U.S. companies are starting to budget for tariffs as a lasting cost, not a temporary trade fight. (fortune.com) Fortune reported that 86% of 633 U.S. executives in a PwC survey conducted in March said tariffs are now a “permanent planning assumption.” PwC’s broader 2026 chief executive survey, released in January, also flagged rising tariff concerns alongside cyber risk and weaker revenue confidence. (fortune.com; pwc.com) Washington is also preparing to return some tariff money already collected. Reuters reported on April 14 that the Trump administration plans to launch a refund system on April 20 for about $166 billion in duties paid by American importers under tariffs the Supreme Court struck down in February. (reuters.com) The new Customs and Border Protection system is called CAPE, short for Consolidated Administration and Processing of Entries. Customs said in a court filing that the first phase is built to combine refunds into one electronic payment rather than a separate payment for each import entry. (reuters.com) The shift in corporate planning follows years of tariffs surviving changes in the White House. Fortune said executives once expected President Joe Biden to unwind many Trump-era duties, but many of those tariffs stayed in place or expanded, pushing companies to treat them like a fixed line item. (fortune.com) The legal fight behind the refunds centers on tariffs imposed under the International Emergency Economic Powers Act, a law presidents use during national emergencies. The Supreme Court ruled on February 20 that the law lets presidents regulate commerce but does not let them impose tariffs without Congress. (reuters.com; skadden.com) That ruling set off a massive cleanup job. Skadden said more than 330,000 importers paid those duties across more than 53 million customs entries, which helps explain why Customs built a new automated system instead of handling claims one by one. (skadden.com) Not every importer will get money right away. Politico reported on April 13 that Customs is expected to start with a first batch on April 20, but many companies will not be eligible in the opening phase and may wait longer for payments. (politico.com) For businesses, the two tracks are colliding at once: tariffs still shape sourcing, pricing, and investment plans, even as the government begins refunding duties a court said it should never have collected. (fortune.com; reuters.com)
