United States processes billions in tariff refunds amid Chile trade negotiations

The United States government has begun refunding approximately $100 billion in tariffs to importers following litigation related to the International Emergency Economic Powers Act (IEEPA). According to a judicial statement from U.S. Customs and Border Protection (CBP), the agency has certified and sent these funds, including interest, to the Department of the Treasury for regular disbursement. The total amount of potential refunds and certified requests currently undergoing processing is estimated at $128.68 billion.

In a separate trade development, Chile is negotiating with the United States to restore zero-tariff status for its exports. Currently, 40.3% of Chile's export basket to the U.S.—valued at over $10 billion—is subject to a 12.5% surcharge. This surcharge was implemented following a presidential memorandum citing concerns over labor standards and forced labor protections. Chile is preparing for high-level meetings in Santiago with Jeffrey Goettman of the U.S. Office of the United States Trade Representative to address the impact on key sectors such as salmon, fruit, and other agricultural products.