Bessent calls $166B tariff refund a 'corporate bonanza'
- Treasury Secretary Scott Bessent called the $166 billion in court-ordered tariff refunds a 'corporate bonanza,' stating the money goes to importers who paid duties, not consumers who bore most of the cost.
- By law, the refunds are paid to importers of record and not directly to consumers, who absorb tariff costs through higher prices.
- As of early August, about $100 billion had been certified and sent to the Treasury for disbursement, but the government has not disclosed how much has been paid out.
- A court judge noted that most refunds processed so far have gone to large importers, with many refund requests rejected for missing the reprocessing window, limiting the distribution to consumers.
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Bessent calls $166B tariff refund a ‘corporate bonanza’
Treasury Secretary Scott Bessent on Thursday called the $166 billion in court-ordered tariff refunds a "corporate bonanza," as the money flows to the importers that ... The post Bessent calls $166B tariff refund a ‘corporate bonanza’ first appeared on [your]NEWS.
Bessent calls $166 billion tariff refund a ‘corporate bonanza’
Bessent calls $166 billion tariff refund a ‘corporate bonanza’ Click this link for the original source of this article. Author: The Center Square This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed offered by the host site and...
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Bessent calls $166B tariff refund a 'corporate bonanza'
(The Center Square) – Treasury Secretary Scott Bessent on Thursday called the $166 billion in court-ordered tariff refunds a "corporate bonanza," as the money flows to the importers that paid the duties rather than the consumers who bore most of…
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