Tariff Refunds Won't Directly Benefit Shoppers, Experts Warn

The Trump administration has launched an online portal for businesses to claim refunds for tariffs overturned by the Supreme Court.

The high court in February nullified steep tariffs issued by President Trump on certain imports, as well as a 10% tariff on all imports, resulting in $166 billion in paid taxes under the invalidated authority.

However, shoppers will not receive direct reimbursement from the federal government for the price increases they bore due to these levies.

Companies may pass along some of the refund money to customers but are unlikely to recover the lion's share of costs lost to tariff-induced price hikes, according to analysts.

The repayment process will return levy payments to importers, many of which passed added costs on to consumers in the form of high prices. The New York Federal Reserve estimated that 90% of tariff costs were shouldered by U.S. companies and shoppers.