Trump administration pays out $100 billion in tariff refunds to businesses

The U.S. government has refunded more than $100 billion to several companies for tariffs they paid after the Supreme Court deemed them illegal, according to a court filing this week. But will consumers see any of that money? CBS News MoneyWatch reporter Megan Cerullo joins to discuss.

The refunds follow a February US Supreme Court 6-3 ruling stating that Trump had acted beyond the Congress’ tax-setting authority and had no constitutional authority to impose these import taxes.

In a significant move, the Trump administration has reimbursed nearly one hundred billion dollars in tariffs after the Supreme Court ruled against wide-ranging duties. By July, around sixty percent of these tariffs were refunded to importers. The court's decision emphasized that the existing law did not provide blanket

Move comes after the US Supreme Court struck down many of Trump's sweeping levies in February.

That’s more than half of the $166 billion owed to thousands of American businesses who paid the tariffs that were struck down by the Supreme Court.

It represents roughly 60% of all tariff revenue collected under the policy, with billions still to be repaid.

Customers of Five Below, Sony, and Nintendo have filed class action lawsuits demanding they receive refunds from the struck-down import taxes.

The Trump administration revealed it refunded about $100 billion in tariffs it collected before the Supreme Court ruled that doing so violated law.

Government has so far returned $100bn to companies that paid levies US supreme court ruled illegal Business live – latest updates The Trump administration has refunded about $100bn from the tariffs it collected before the US supreme court ruled them illegal, according to reports. The $100bn (£74bn) figure, which repr

US customs officials repay about 60% of the levies that were struck down by the Supreme Court

The states contend that the president’s tariffs are a mere pretext to reinstate import taxes previously struck down by the Supreme Court