Trump's 'Liberation Day' Tariff Refunds Hit $100 Billion

3-line summary

• Refunds of Trump's 'Liberation Day' tariffs have reached $100 billion, representing roughly 60% of all tariff revenue collected by the US government under the policy, according to the report.
• The repayments follow a Supreme Court decision in February that ruled broad import tariffs imposed under the 1977 International Emergency Economic Powers Act were unlawful.
• Nearly $29 billion in additional refunds remains under review, while another $1.6 billion is stuck because importers have not yet supplied banking details; Amazon alone received about $600 million in refunds in the second quarter, according to CFO Brian Olsavsky.

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