Source : INDIA TODAY NEWS
The Trump administration has refunded roughly $100 billion in tariff collections, following a Supreme Court ruling that struck down a large portion of the duties imposed under the International Emergency Economic Powers Act (IEEPA), according to a court filing submitted by US customs officials.
The filing before the US Court of International Trade stated that refunds, including interest, had been processed through the government’s customs refund system and forwarded to the Treasury Department for disbursement. The figure reflects refunds completed by the end of July.
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The amount represents more than half of the approximately $166 billion in tariffs that were invalidated by the Supreme Court earlier this year.
In a landmark 6-3 decision delivered on February 20, the court ruled that Trump had exceeded his authority by using the IEEPA—a law enacted in 1977 to address national security emergencies—to impose sweeping tariffs on imports from US trading partners. The justices concluded that the statute did not grant the president unilateral power to levy broad-based trade duties.
Tariffs have remained a cornerstone of Trump’s economic and foreign policy agenda despite repeated legal challenges and criticism from economists and trade experts.
The refunds, however, have become a fresh political flashpoint. Critics argue that the money is being returned to importers and corporations that paid the duties rather than to American consumers who ultimately bore the higher costs through increased prices.
Democratic Congressman Greg Casar criticised the refund process, arguing that ordinary Americans should benefit from the repayments rather than businesses.
Following the Supreme Court setback, Trump sharply criticised the ruling and the justices involved. His administration subsequently introduced a new set of temporary 10% tariffs using a different legal mechanism and later expanded trade measures under Section 301 of the Trade Act of 1974, a provision traditionally used to counter unfair trade practices by foreign governments.
The latest filing offers the clearest picture yet of the financial impact of the court’s decision, with tens of billions of dollars already returned and additional refunds still expected as the process continues.
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With inputs from Reuters
SOURCE :- TIMES OF INDIA
