Tariff refund portal off to bumpy start as some businesses report glitches
CBS News • • general
Key Points:
- The U.S. government's new tariff refund portal, CAPE, experienced technical difficulties and high volume issues upon its launch, preventing some businesses from filing refund claims.
- Businesses like Learning Resources and Busy Baby reported error messages and long wait times with U.S. Customs and Border Patrol (CBP), which is investigating the problems.
- The government owes up to $175 billion in tariff refunds to tens of thousands of importers affected by Trump-era tariffs, with over 56,000 importers registered to receive refunds as of April 9.
- Some small businesses emphasized the urgency of receiving refunds to recover from losses caused by tariffs, while others noted that refunds may not fully compensate for financial impacts.
- Retail analysts suggest that while some companies absorbed tariff costs to avoid raising consumer prices, refunds could lead to consumer incentives or discounts, though direct reimbursement to consumers remains uncertain.
