\n Tariff refunds are finally happening. Well, sort of.\n <\/p>\n
\n Exactly two months after the Supreme Court struck down<\/a> President Donald Trump\u2019s most sweeping tariffs, American importers, who are owed $166 billion in refunds plus interest, can begin applying for reimbursement Monday through a new US Customs and Border Protection portal.\n <\/p>\n \n CBP estimates that refunds will be issued within 60 to 90 days after approval, but it could take longer depending on whether additional reviews of entries are merited.\n <\/p>\n \n The program, called the Consolidated Administration and Processing of Entries (CAPE), \u201cis designed to consolidate refunds of IEEPA duties including interest rather than processing refunds on an entry-by-entry basis,\u201d CBP said in a prior notice. (IEEPA refers to the International Emergency Economic Powers Act, the law Trump had relied on<\/a> to impose now-extinct tariffs.)\n <\/p>\n \n Only parties known formally as importers of record who made tariff payments or authorized customs brokers who act on their behalf can file for tariff refunds. However, not all tariff payments will be eligible to apply for reimbursement on Monday, which marks the start of multiple phases for the rollout of the program.\n <\/p>\n \n For the first phase, only entities who have made certain tariff payments will be able to make refund submissions. It\u2019s unclear when the system will open for all payments subject to refund.\n <\/p>\n \n Additionally, the process could drag out even longer if the Trump administration takes further actions to delay or reduce the size of refunds.\n <\/p>\n \n \u201cThere\u2019s alternative authorities that perhaps could reduce that number quite a bit,\u201d White House National Economic Council Director Kevin Hassett said in a recent Fox News interview, referring to the size of refunds distributed.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Tariff refunds are finally happening. Well, sort of. Exactly two months after the Supreme Court struck down President…\n","protected":false},"author":2,"featured_media":408456,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":{"0":"post-408455","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-ie","11":"tag-ireland"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/408455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=408455"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/408455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/408456"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=408455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=408455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=408455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}