The Trump administration is working on a system to simplify refunds of some $366 billion paid in tariffs that have since been declared illegal.
Associated Press reports that the explanation was given to a United States court after a judge ordered the government to start paying back all importers the illegal tariffs they paid — with interest.
The US Supreme Court had earlier ruled that the double-digit import taxes imposed last year under the 1977 International Emergency Economic Powers Act (IEEPA) were illegal. Those tariffs include 30% charged since April last year on South African exports to the US.
In the filing, a US official said as of March 4, more than 330,000 importers had paid about $166 billion in tariffs that now had to be refunded. A system to streamline and consolidate refunds and interest payments should be ready in 45 days, he said.
