Trump administration set to launch tariff refund portal. Here's what to know.

Key Points:

• The U.S. government will launch the CAPE online portal on April 20, allowing businesses to request refunds for tariffs deemed illegal by the Supreme Court, potentially totaling up to $175 billion.
• Refunds are not automatic; businesses and customs brokers must submit claims for IEEPA tariffs, with eligibility limited to unliquidated tariffs or those finalized within the past 80 days, placing the burden on importers to apply.
• The refund process may take 60 to 90 days after claim approval, but errors in paperwork or complex cases could delay payments, and about 37% of tariffs already liquidated or protested are excluded from CAPE.
• Some importers may sell their tariff refund claims to hedge funds or financial firms for immediate cash, transferring the administrative burden of pursuing refunds to these entities.
• Experts express concerns about the system's efficiency and effectiveness, while businesses like Learning Resources plan to promptly apply for refunds but wish the government would issue automatic reimbursements.