Tipsheet

Companies Can Now Begin Applying for Tariff Refunds With Costs Expected to Exceed $166 Billion

Dmitri Bolt
Dmitri Bolt  |  April 20, 2026 2:00 PM

As of Monday, the United States federal government is set to begin refunding nearly $166 billion in tariffs, following the Supreme Court's decision to strike down the President's Liberation Day tariffs under the International Emergency Economic Powers Act in February.

Following the decision, a judge at the U.S. Court of International Trade ordered Customs and Border Protection (CBP) to remove the president’s tariffs and refund any excess duties collected, with interest. Court filings revealed that more than 330,000 importers paid tariffs on over 53 million shipments, totaling more than $166 billion. 

Beginning at 8 p.m. Monday, those importers may submit refund requests to CBP. Once approved, repayments are expected to take approximately 60 to 90 days. 

However, due to the sheer number of those expecting to apply for refunds and the unprecedented cost involved, refunds are set to be issued in phases. The initial phase will be limited to certain unliquidated entries and entries made within 80 days of the end of the tariffs.

Treasury Secretary Scott Bessent told reporters last week that he is uncertain how the refunds will affect the economy or whether they will ultimately benefit consumers, saying simply, “We’ll have to see.”