About $100 billion has been paid by Donald Trump's government in duty refunds since the Supreme Court of USA rejected the use of emergency powers to impose duties on its trading partners earlier this year.
The amount, which represents 60% of the US$ 165 billion collected from the President's duties, is estimated at around ECU 1 billion. «day of release», reported by US customs officials to U.S. International Trade Court judges on Tuesday, Financial Times reports.
The judges of the lower court ordered the U.S. Customs and Border Protection Agency (CBP) to process refunds, after the Supreme Court in February banned the use of emergency economic emergency powers to impose high tariffs, significantly limiting the extensive use of executive power by the American president.
The rapid pace at which refunds are issued is the last turn in Trump's turbulent trade war, where tariffs have been imposed on an unprecedented scale, as part of sweeping efforts to reform America's relationship with the global economy.
After the Supreme Court ruling, American officials and Trump warned that refunds would depend on the court disputes that follow.
«This could take years for the case to be tried and payments achieved», said Finance Minister Scott Bessend in February. «And if there's a payment, it seems to be just the ultimate corporate aid.».
Trump attacked the Supreme Court just last month, publishing on Truth Social that judges had cost the US «Three million and three million dollars» by their decision to cancel its duties.
But the speed at which the money was returned has surprised lawyers and trade analysts. «Government processes money refunds», told the FT Ted Murphy, a commercial lawyer at Sidney Austin in Washington.
Refunds favour large US companies
CBP reported in her court testimony Tuesday that more than $128 billion had «accepted for processing», marking that more refunds are imminent.
«Personally, I am pleasantly surprised at how quickly the government has moved on to this.», told the FT Walker Livingston, an analyst for counseling Capstone who monitors the money back process through the courts.
However, American legislators complain that money is often returned to large companies and rarely returned to the hands of consumers or small businesses to which the tariff charges were transferred.
«Trump sends the returns to the companies, not the employees.», said Greg Cazar, Texas Democratic MP to Congress. «Each cent of these refunds should be returned to American consumers».
Although CBP was ordered by a court to set up a new system for the reimbursement of contributions after the Supreme Court's decision, only the «registered importer» may use its website to claim.
This excludes small enterprises that did not import directly themselves, but actually paid the duties either through higher costs or through analytical charges.
Other small businesses have complained that they do not know how to recover the duties they have paid or have no ability to do so.
Despite having to return billions to American importers, the government is trying to rebuild Trump's tariff wall with a new series of contributions.
Last week, he began using separate legislation as a basis for new tariffs between 10 and 12.5% in more than 60 economies.
There are already at least three separate legal appeals against the last series of duties, including those of lawyers who have successfully contested its duties. «day of release» to the Supreme Court.
Source: ot.gr
