The Donald Trump administration has issued approximately $100 billion in refunds to businesses for tariffs collected under its “Liberation Day” trade policy, according to BBC reporting citing recent court filings by U.S. Customs and Border Protection.
The refunds represent roughly 60% of the total tariff revenue collected by the U.S. government under the policy, according to the documents.
However, a substantial amount remains outstanding. Nearly $29 billion in potential refunds is currently under review by trade authorities, while another $1.6 billion remains blocked because importers have yet to provide their banking information.
The refunds follow a landmark U.S. Supreme Court ruling in February that found the broad import tariffs imposed under emergency economic powers to be unlawful.
The White House had relied on the 1977 International Emergency Economic Powers Act (IEEPA), which gives the president authority to regulate international commerce in response to a declared emergency.
Trump’s tariff measures triggered strong opposition from businesses in the United States and abroad, particularly companies facing unexpectedly higher costs on goods entering the country. The policy also fueled concerns that higher import duties would ultimately push consumer prices higher.
Following the Supreme Court ruling, several major U.S. corporations have already sought substantial refunds.
Amazon received approximately $600 million in tariff refunds during the second quarter, according to Chief Financial Officer Brian Olsavsky.
Speaking during the company’s quarterly earnings call, Olsavsky said Amazon planned to return some of the refunded money to customers where specific tariffs had been applied, while the remaining funds would be used to support lower prices across its stores.
The overall value of tariff refunds is expected to increase further as U.S. Customs continues reviewing outstanding claims and importers update their banking information.
