New York Gov. Kathy Hochul on Monday reiterated her calls for the Trump administration to refund an estimated $13.5 billion in tariff payments to New Yorkers as importers and their brokers were able Monday to begin claiming refunds through an online portal after the Supreme Court in February struck down many of the president’s far-reaching tariffs.
Companies must submit declarations listing the goods on which they collectively put billions of dollars toward the import taxes the court subsequently struck down. If approved, it will take 60-90 days for a refund to be issued.
What You Need To Know
Gov. Kathy Hochul on Monday reiterated her calls for the Trump administration to refund an estimated $13.5 billion in tariff payments to New Yorkers
Importers and their brokers were able Monday to begin claiming refunds through an online portal after the Supreme Court in February struck down many of the president’s far-reaching tariffs
According to the governor’s office, based on estimates by the Yale Budget Lab, the average New York household has faced an estimated $1,751 in added costs due to tariffs since they were enacted last year, for a total estimated $13.5 billion statewide impact
The government owes businesses more than $166 billion after the court ruled the president does not have the authority to impose sweeping tariffs under the International Emergency Economic Powers Act, or IEEPA, passed in 1977.
“They still owe New York families $1,700. They deserve their money back and we’re going to continue fighting for that and we’re in court to secure that as well,” Hochul told reporters Monday at an event in Buffalo.
According to the governor’s office, based on estimates by the Yale Budget Lab, the average New York household has faced an estimated $1,751 in added costs due to tariffs since they were enacted last year, for a total estimated $13.5 billion statewide impact.
“We’ve said all along from the beginning the Trump tariffs were illegal, but they had to continue until the Supreme Court said no they should’ve never been in place from the very beginning. Those tariffs were nothing but a tax on the American people, the American people who are begging from relief, from the cost of inflation, the cost of gasoline going up now. And then they had to deal with the effects of the Trump administration-imposed tariffs,” Hochul said.
Hochul, a Democrat up for reelection this year, has been a regular critic of the tariffs since their implementation last year. In her State of the State address in January, Hochul proposed $30 million for farmers who have been impacted by the tariffs.
The refund process is a complicated one that might eventually lead to refunds for consumers who were billed for some or all of the tariffs on products shipped to them from outside the United States.
“Every day New Yorkers also pay the price, it’s not just a business that can show on a ledger that they paid this tariff to this entity,” Hochul said.
The Associated Press contributed to this report.