U.S. tax refund procedures tied to the Supreme Court’s ruling invalidating reciprocal tariffs are expected to begin as soon as May 12 (local time), according to reports.
Reuters reported on May 4 (local time), citing a statement from U.S. Customs and Border Protection, that the refund process had been set to start May 11 but was delayed by one day to May 12. Even after the process begins, it is expected to take 60 to 90 days for refunds to be deposited to importers.
The move follows a Feb. 20 U.S. Supreme Court decision, by a 6-3 vote, striking down tariffs imposed by the Trump administration under the International Emergency Economic Powers Act, including reciprocal tariffs. The refund process is set to start about three months after the ruling.
CBP is estimated to have collected about $166 billion (about 245 trillion won) in tariffs from 330,000 importers under IEEPA, and refunds are expected to be comparable. CBS, citing CBP data, reported that as of April 26 more than 11 million refund claims had been filed.
The refunds will go to U.S. importers that brought goods in from overseas, not directly to American consumers. However, major U.S. logistics companies including FedEx and UPS said they plan to pass refunded amounts back to consumers.
* This article has been translated by AI.
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