Tariff refund delays could cost U.S. taxpayers $700 million a month in interest, report finds

March 5, 2026

TL;DR

The federal government may owe up to $175 billion in tariff refunds to American businesses.
Delays in refunding invalidated tariffs are costing U.S. importers $700 million per month in interest, according to the Cato Institute.
The U.S. Court of Appeals for the Federal Circuit denied the Trump administration's request to delay the refund process.
U.S. customs rules require the government to pay interest on reimbursable duties.
Delaying refunds for one year could result in additional interest payments of $8.4 billion on illegal tariffs.

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