The Donald Trump administration has officially started processing refunds for billions of dollars in tariffs that the US Supreme Court struck down in February. This repayment program, arguably the largest in history, allows companies to apply online to recoup money they were charged under the so-called Liberation Day tariffs, plus interest.
The US Court of International Trade ordered customs officials in March to refund more than $160 billion that the government had collected. According to the BBC, if you are an individual consumer who paid higher prices because of these tariffs, you are not expected to be compensated.
The refunds relate specifically to levies charged under the International Emergency Economic Powers Act, or IEEPA. As Judge Richard Eaton wrote in March, “All importers of record whose entries were subject to IEEPA duties are entitled to the benefit” from the high court’s ruling.
Businesses are getting billions back, but consumers and small importers are being left behind
The online portal for these claims, known as the Consolidated Administration and Processing of Entries, or Cape, went live on Monday. Customs and Border Protection officials say they built the system to process refunds as one lump sum rather than requiring businesses to apply item by item.
As of early April, over 56,000 importers had completed the steps to apply, with total claims reaching roughly $127 billion. Successful applicants can expect their refunds and any applicable interest within 60 to 90 days.
It has been a mixed experience for the businesses involved. Aaron Powell, founder and CEO of Bunch Bikes, navigated the Cape portal within minutes of it opening. His company was heavily exposed to these tariffs, and he plans to use the roughly $120,000 refund as a buffer against potential future levies. Even so, he remains cautious. “I am cautiously optimistic, but until the money is in my bank account, I am not counting on it or spending it,” he said.
Not everyone has had a smooth experience. Rick Woldenberg, CEO of educational toy maker Learning Resources, whose company filed the lawsuit that led to the Supreme Court striking down these tariffs, ran into technical trouble.
He reported receiving an error message saying the system was experiencing high volume. “The system seems to have gone blinky,” he noted. This comes at a time when the Trump administration’s handling of major economic promises has been under growing scrutiny.
According to CNBC, Wall Street analysts are already projecting massive payouts for major retailers. A Citi analysis estimated that Walmart is due $10.2 billion, while Target could see $2.2 billion, and Nike could receive $1 billion.
Smaller businesses, however, are dealing with a different set of worries. Dan Anthony, executive director at We Pay the Tariffs, noted that many businesses are far more concerned about the possibility of new tariffs from the Trump administration, which could effectively wipe out any refunds they receive.
The lack of direct relief for shoppers is a major point of contention. Some individuals have started filing class-action lawsuits against companies they believe passed the cost of these tariffs on to them, arguing that if businesses are getting a refund, that money should go back to the consumers who ultimately paid the higher prices.
Cases have been filed against companies like EssilorLuxottica and FedEx, as well as a class-action lawsuit against Costco in the US District Court for the Western District of Washington.
Costco CEO Ron Vachris has stated the company plans to pass on any tariff refunds to customers through lower prices, but for many other retailers, that seems unlikely. Treasury Secretary Scott Bessent was blunt about the situation in February. “I got a feeling the American people won’t see it,” he said.
Many management teams at major corporations have suggested that if they do receive these funds, they will consider options including share repurchases, debt paydowns, or simply increasing their cash reserves.
Trade lawyers are also warning of potential bureaucratic hurdles and last-minute legal challenges, and there is a general sense of pessimism in the importing community about how easily the government will actually return this money. The administration’s blunt tone on US trade relationships has done little to ease those concerns.
Meanwhile, the administration has signaled it is not finished with tariff policies. Officials are considering using Section 301 tariffs to target what they describe as unfair trade practices, meaning tariffs could potentially return to their previous levels by the beginning of July. This leaves many businesses feeling as though the refund process may be a temporary reprieve rather than a permanent fix.
Published: Apr 21, 2026 11:30 am