Trump Tariffs and Trade Policy

Following the Supreme Court’s IEEPA decision, Judge Richard Eaton of the U.S. Court of International Trade ordered that all importers who paid the unlawful emergency tariffs are entitled to refunds, centralized handling of those claims in his court, and the Federal Circuit refused the DOJ’s bid to delay implementing the mandate. Customs and Border Protection is building a special refund workflow (target ~45 days) to recompute entries as if IEEPA never applied and to pay refunds with interest, with government exposure estimated roughly $130–$175 billion and interest costs accruing at about $700 million a month as importers trade claims and the administration signals further appeals.