U.S. Refunds $100 Billion in Invalidated Tariff Revenue

The U.S. government has refunded approximately $100 billion in tariff revenue, representing 60 percent of the total collected under a program the Supreme Court invalidated earlier this year. Customs and Border Protection reported the figure to the U.S. Court of International Trade on Tuesday, August 4, 2026, marking a significant milestone in the court-ordered repayment process.

The refunds stem from a Supreme Court ruling in February 2026, which found that the administration’s use of the International Emergency Economic Powers Act to impose broad global tariffs was unconstitutional. The court held that the power to levy such taxes rests with Congress, not the executive branch. The decision forced the Treasury Department and Customs and Border Protection to begin returning funds to the businesses that paid the duties.

More than 2,000 companies, including major importers like Costco and FedEx, have filed lawsuits seeking full refunds. The mechanics of the refund process ensure the money flows to the "Importer of Record"-the U.S. business that formally paid the duty-rather than to consumers who ultimately bore the cost through higher retail prices. Treasury Secretary Scott Bessent...