economy
Trump tariff refunds are happening
Business owners may have to wade through paperwork, but the US government is now actually processing refunds
TL;DR
- Around 330,000 importers collectively paid over $166 billion in tariffs imposed under Trump's IEEPA.
- A refund process has been implemented, allowing eligible businesses to reclaim these tariff fees.
- To claim a refund, the original 'importer of record' (customs broker) must file the request electronically.
- The process requires patience, with refunds expected to take 60-90 days.
- Businesses that took tax deductions for the tariffs in previous years should be aware that refunds received in 2026 will be taxable.
- Shipping companies like FedEx, UPS, and DHL are returning tariff refunds to customers, while other major brands have not yet made such pledges.