Tariff Refunds Reach $100 Billion as US Government Repays Businesses

The US government has paid back $100 billion in 'Liberation Day' tariff refunds to businesses through customs officials. This represents about 60% of all tariff revenue collected under the policy, according to a recent court filing from US Customs and Border Protection.

The repayments follow a major Supreme Court decision in February that ruled broad import tariffs introduced by the White House were unlawful. The measures had sparked outcry at home and abroad due to their abrupt rise in taxes on shipments entering the US, fueling worries about higher prices.

Major corporations like Amazon have already claimed large sums back, with the company receiving approximately $600 million in refunds during the second quarter. Finance chief Brian Olsavsky said that some of this money will be passed back to customers and the rest used to support lower store prices.