On May 11, the US administration will begin to refund funds received in the form of import duties deemed illegal by the court, Bloomberg reported, citing information from the US Federal Court of International Trade.
So far, only 21% of import declarations subject to tariffs imposed under the International Emergency Economic Powers Act (IEEPA) have been processed, with 3% already in the process of being refunded, which will eventually be refunded by the US Treasury Department through electronic payments.
On February 20, the US Supreme Court ruled that the imposition of import duties by US President Donald Trump on other countries under IEEPA was an excess of authority.
On April 24, Trump announced that the US administration must refund $159 billion in import duties.