President Donald Trump said current tariff levels are not high enough, openly signaling interest in additional duties as large-scale refunds are set to begin next week following a U.S. Supreme Court ruling that invalidated his administration’s “reciprocal” tariffs. The Trump administration is expected to use this week’s hearings under Section 301 of the Trade Act to press ahead with what it has described as “alternative tariffs.”
According to CBS and other outlets, Trump told a White House Small Business Summit held during U.S. Small Business Week on May 4 (local time) that while people had said they were thankful for tariffs, “I think those tariffs are actually not high enough.” He added that the administration is reviewing alternative tariffs and said, “Refunding tariffs is really terrible.”
The remarks came after the Supreme Court in February struck down reciprocal tariffs and other duties the administration had imposed under the International Emergency Economic Powers Act, or IEEPA. Reuters, citing a statement from U.S. Customs and Border Protection, reported that the refund process is expected to begin May 12.
CBP estimates it collected about $166 billion in IEEPA-based tariffs from 330,000 importers, suggesting refunds could be substantial. CBS, citing CBP data, reported that as of April 26 more than 11 million refund claims had been filed.
As the administration looks beyond IEEPA, the Office of the U.S. Trade Representative is preparing tariffs under Section 301 and plans hearings May 5-8 involving 16 countries, including South Korea and China, on issues tied to overproduction. After the reciprocal-tariff ruling, the administration imposed a 10% global tariff, and since March USTR has launched Section 301 investigations of major trading partners over overproduction and forced labor.
Section 301 allows the United States to respond to foreign policies and practices deemed unfair and harmful to U.S. trade. USTR is expected to complete its investigation by July 24, and it is widely expected the administration will impose tariffs on countries where it finds practices it considers unfair.
Still, with public sentiment souring amid high prices linked to tariff policy, concerns are also emerging within the Republican Party ahead of this year’s midterm elections. Small businesses, with limited leverage to negotiate prices, are seen as especially vulnerable because they may struggle to pass higher costs on to consumers. Rep. Max Miller, R-Ohio, said, “This tariff policy is not working for them (small businesses),” adding, “Overall, it is not having a positive effect. Overall, it is a negative effect.”
CBS also reported that Ford, a major U.S. automaker, has asked the Trump administration not to introduce additional tariffs beyond those already in place.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.