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Trump says 'I'll remember' companies that don’t seek tariff refunds
President Donald Trump on Tuesday told CNBC that he will gratefully "remember" U.S. companies that do not seek refunds for the tariffs he unilaterally imposed, which the Supreme Court later ruled were illegal.
Trump's comment on "Squawk Box" came a day after U.S. Customs and Border Protection opened a portal for importers to seek more than $160 billion in potential refunds for the so-called IEEPA tariffs.
He was asked about a number of large companies, among them Apple and Amazon, that have not filed requests for refunds for the tariffs they paid, potentially because they are worried about "offending" Trump.
Who gets tariff refunds? What to know about CAPE tariff refund portal
The CAPE tariff refund portal was launched April 20 to start processing $166 billion in tariff refunds for eligible claims.
How could impact President Donald Trump's tariff dividend and stimulus check promises?
Trump had proposed tariff dividend of $2,000 refunds to middle and lower income households from the government's tariff revenues, but that was upended by the Supreme Court's 6-3 decision in February to invalidate the tariff hikes. The ruling also tasked the U.S. Court of International Trade in New York and US Customs and Border Protection to issue billions in tariff refunds.
On Monday, U.S. Customs and Border Protection launched the Consolidated Administration and Processing of Entries, CAPE to begin processing the claims from over 333,000 importers that paid the tariffs imposed by Trump under the International Emergency Powers Act, or IEEPA.
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$166 billion in tariff refunds just became available, but small businesses may already be at a disadvantage
After months of waiting, U.S. importers will finally have access to the $166 billion collected from tariffs that were ruled unconstitutional. But as American small businesses battered by the import taxes look to recoup the cost of the levies, they may find it’s more difficult for them than it is for larger, wealthier firms.
On Monday, U.S. Customs and Border Protection (CBP) rolled out the first phase of its electronic tariff refund system, also known as the Consolidated Administration and Processing of Entries (CAPE), allowing importers to apply for refunds on tariffs struck down by the Supreme Court.
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