US judge orders refunds for more than $130bn in illegal Trump tariffs
Trade court directs customs to repay importers with interest after supreme court ruled tariffs unlawfulA US trade court judge on Wednesday ordered the government to begin paying potentially billions of dollars in refunds to importers who paid tariffs that the supreme court said last month were collected illegally. Richard Eaton, a judge of the US Court of International Trade in Manhattan, ordered the government to finalize the cost of bringing millions of shipments into the US without assessing a tariff, according to a court filing. He ordered the refunds to be made with interest.When merchandise is brought into the United States, an importer pays an estimated amount at entry which is then finalized around 314 days later, a process known as liquidation. Eaton directed Customs and Border Protection to finalize the entry cost on shipments without the tariff being assessed, resulting in a refund. Continue reading…