Trump administration refunds importers about $100 bln in previously collected tariffs

Trump administration refunds importers about $100 bln in previously collected tariffs The refunded amount represents about 60% of the roughly $166 billion collected by the government under the tariffsNEW YORK, August 6. /TASS/. US President Donald Trump’s administration has refunded importers about $100 billion in tariffs collected before the Supreme Court struck down duties imposed under the International Emergency Economic Powers Act (IEEPA), according to documents filed with the US Court of International Trade. The refunded amount represents about 60% of the roughly $166 billion collected by the government under the tariffs. In February, the Supreme Court ruled that IEEPA did not authorize the president to impose such duties, after which a federal court ordered the government to return the previously collected funds to importers. Despite the court rulings, the Trump administration is seeking to restore a similar tariff regime through other legal mechanisms, CNBC noted. Trump, meanwhile, said the tariffs had brought the country "hundreds of billions of dollars" and that the Supreme Court’s decision had merely forced the administration to use a different method to impose them. 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