Tariff refunds could ease local business pressure

Billions of dollars in tariff refunds could be on the way for American companies but getting that money back will be anything but simple. Experts also warn consumers probably won’t see a dime. The refunds fall under the International Emergency Economic Powers Act, or IEEPA. In February, a U.S. Supreme Court decision struck down most of President Donald Trump’s tariff policy under the act. A lower court has since ruled the government must return those funds which opens the door for businesses to find some financial relief. The federal government reports it’s getting closer to finishing the system to process refund claims.