$100bn Tariff Refunds Paid Out by Trump Administration

The Trump administration has paid back $100bn in 'Liberation Day' tariffs to US businesses, according to a recent court filing from US Customs and Border Protection.

This represents about 60% of all tariff revenue collected by the government under the policy.

The repayments follow a major Supreme Court decision in February, which ruled that broad import tariffs introduced under economic powers were unlawful.

Amazon received about $600m in refunds during the second quarter, with some money being passed back to customers and the rest used to support lower store prices.