Tariff Refund Portal Opens for Businesses

0:00On April 19, starting Monday at 8 a.m., U.S. Customs and Border Protection kicks off an online portal for businesses to claim refunds on tariffs, ruled unconstitutional by the Supreme Court. Importers who shelt out billions on those import taxes can now start filing declarations for their goods. If approved, refunds had accounts in 60 to 90 days, but it'll roll out in phases starting with the newest payments. These all stems from a 6-to-3 Supreme Court decision back on February 20, where they said former President Trump overstepped by using A. 1977 emergency law to slap tariffs on goods from nearly every country bypassing Congress on taxes. A lower trade court then greenlit the refunds last month. Business owners are buzzing with a mix of hope and caution. Take Brad Jackson from After Action Cigars in Minnesota. He dropped $34,000 last year on imports from Nicaragua and the Dominican Republic, eating most of the cost instead of hiking prices.

1:01He's got his docs ready, but worries about delays cramping cash flow, especially after past shipping snags. Over 56,497 importers are registered and eligible for $127 billion, including interest. Lawyers stress double checking every entry number to avoid rejections, and everyone expects some launch day glitches, so patience is key, since none. Every tariff qualifies right away. While companies get the direct cash back with no obligation to pass it on, consumers might see relief through ongoing lawsuits against big players, like Costco or from delivery giants like FedEx, who plan to refund customers once they get theirs. This refund wave could reshape trade costs, but expect that money to trickle down slow. World news, powered by AI, this is Global News Today. I'm Corey with The Story.