The slow trickle-down of tariff refunds

The U.S. government so far is on tap to reimburse $85 billion worth of tariff refunds. But there’s still a way to go for the government to fully reimburse companies for the now-unconstitutional tariffs — or before any of those funds may be returned to customers.

A new court declaration from Brandon Lord, the director of the Office of Trade at U.S. Customs and Border Protection, said the government has accepted about $85 billion worth of potential and certified refunds for processing.

So far, just about $20.6 billion worth of refunds has been sent to the U.S. Treasury for disbursement. But there’s roughly $166 billion in illegal duties owed to importers overall.

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