US Issues $35.5 Billion in Tariff Refunds After Supreme Court Ruling

The U.S. Supreme Court declared portions of President Donald Trump's tariff measures unconstitutional, prompting the start of refund payments to affected companies. The first wave of refunds began flowing shortly after the decision. By May 11, the Treasury had finalized tariff refunds totaling $35.5 billion to businesses that had paid the disputed duties.

The refunds aim to restore the financial position of firms that incurred costs under the invalidated tariffs and signal a reversal of that segment of trade policy.