economy

Here's When Businesses Will Start Getting Refunds for Trump's IEEPA Tariffs

Businesses that applied for refunds of President Trump's "liberation day" tariffs, which the Supreme Court struck down in February, are getting some clarity on when they will receive their money.

Here's When Businesses Will Start Getting Refunds for Trump's IEEPA Tariffs

TL;DR

  • Businesses owed refunds for President Trump's IEEPA tariffs can expect payments to start around May 11.
  • The federal government established a portal called CAPE for businesses to submit refund requests.
  • The CAPE portal initially crashed due to high demand but is now working for most users.
  • Approximately 21% of IEEPA duty refund requests have been accepted, with 3% in the refund stage.
  • Some small businesses, like Busy Baby and Buckle Me Baby, faced difficulties accessing the portal and resolving administrative errors.
  • The U.S. Treasury Department will issue the first refunds.

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