U.S. customs agency, trade judge to seek path to final tariff refunds
CNBC • • nation
Key Points:
- U.S. Customs and Border Protection (CBP) officials are attending a federal trade court hearing to negotiate the refund of tens of billions of dollars in tariffs deemed illegal by the Supreme Court.
- Judge Richard Eaton described the hearing as a settlement negotiation focused on resolving the return of the remaining portion of $166 billion in illegal tariffs.
- CBP has processed nearly $90 billion in refund claims, completing $22 billion in refunds so far, primarily for simpler Phase 1 cases, while more complex liquidated tariffs remain unresolved.
- Smaller importers face challenges in suing for refunds due to costs and time, prompting discussions about certifying a class of importers to enable a single court order for refunds.
- The CBP has resisted some court orders, citing the Supreme Court's ruling that federal judges cannot issue nationwide injunctions, complicating the refund process.