US Federal Court Orders Trump Admin to Refund Invalid Tariffs; Huge Blow
Loading more articles...
US Court Delivers Major Blow to Trump: Orders $175 Billion Tariff Refund
C
CNBC Awaaz•10-03-2026, 09:30
US Court Delivers Major Blow to Trump: Orders $175 Billion Tariff Refund
•A Federal Court in New York ordered the Trump administration to refund companies for tariffs declared invalid.
•This decision could become one of the largest refund cases in American trade history, estimated at approximately $175 billion.
•The Supreme Court had previously canceled these tariffs, imposed under the 1977 International Emergency Economic Powers Act (IEEPA), on February 20.
•Refunds will be issued to all companies that paid the tariffs, not just those who filed lawsuits, following a case initiated by Atmos Filtration.
•A US appeals court rejected the Trump administration's appeal to slow down the refund process, requiring US Customs and Border Protection to set up a system.
