U.S. Refunds $22B in Tariffs, Canceling Customs Revenue
- On Wednesday, June 10, the Treasury Department refunded nearly $22 billion in May tariff revenue, marking the first repayments since the Supreme Court invalidated a key component of President Donald Trump's trade policy.
- The administration began processing these payments in April after the Supreme Court ruled that Trump lacked the authority to impose tariffs using the International Emergency Economic Powers Act .
- Customs duty refunds surged from $2 billion in April, with the Treasury confirming that May repayments effectively canceled out the government's total duties revenue collected during that month.
- Despite an administration appeal of the court order to refund every importer who paid the $166 billion collected under IEEPA authority, Treasury Secretary Scott Bessent confirmed last week that the government is returning funds.
- The Congressional Budget Office projects the federal deficit will widen for the full fiscal year, reaching $1.85 trillion in 2026 and $1.89 trillion in 2027, according to the agency's February outlook.
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Missouri Independent
Tariff refunds for small businesses past due, US Senate Dems tell Trump administration
President Donald Trump holds up a chart while announcing new tariffs in the White House Rose Garden on April 2, 2025. (Photo by Chip Somodevilla/Getty Images)WASHINGTON — The Trump administration has failed to refund more than $145 billion in tariffs that the U.S. Supreme Court has ruled unlawful, a pair of U.S. Senate Democrats said in a Wednesday letter to the administration’s chief of customs. Sens. Ron Wyden of Oregon and Edward Markey of M…
Tariff refunds past due, Senate Democrats tell Trump administration
President Donald Trump holds up a chart while announcing new tariffs in the White House Rose Garden on April 2, 2025. (Photo by Chip Somodevilla/Getty Images)WASHINGTON — The Trump administration has failed to refund more than $145 billion in tariffs that the U.S. Supreme Court has ruled unlawful, a pair of U.S. Senate Democrats said in a Wednesday letter to the administration’s chief of customs. Sens. Ron Wyden of Oregon and Edward Markey of Ma…
Tariff refunds for small businesses past due, US Senate Dems tell Trump administration • West Virginia Watch
President Donald Trump holds up a chart while announcing new tariffs in the White House Rose Garden on April 2, 2025. (Photo by Chip Somodevilla/Getty Images)WASHINGTON — The Trump administration has failed to refund more than $145 billion in tariffs that the U.S. Supreme Court has ruled unlawful, a pair of U.S. Senate Democrats said in a Wednesday letter to the administration’s chief of customs. Sens. Ron Wyden of Oregon and Edward Markey of M…
The U.S. Treasury has begun repayment of customs surcharges cancelled by the Supreme Court, despite an appeal filed by the administration The U.S. Treasury Department announced Wednesday
Tariff refunds wipe out customs revenue as federal deficit heads toward $2 trillion
The U.S. budget deficit for fiscal year 2026 is on track to reach $2 trillion, the third-largest in history. A record $29.5 billion in August tariff revenue was overwhelmed by $689 billion in monthly government spending. Interest payments on the national debt surged 44 percent to a record $133 billion in May. Mandatory spending on […]
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