Businesses starting to receive their IEEPA tariff refunds

Businesses in the U.S. are finally starting to receive federal refunds for tariffs that were imposed by President Trump in 2025 and later overturned by the Supreme Court. Sarah Wells, a small business owner who specializes in accessories and apparel for breastfeeding mothers, shared her experience with CBS News, stating that she has already received half of the money owed to her by the U.S. government.

In April, Wells submitted refund claims for two different tariffs that were imposed on her business under the International Emergency Economic Powers Act (IEEPA) – one for goods imported from China and another for products from Cambodia. The Supreme Court’s decision in February deemed that President Trump did not have the legal authority to enforce tariffs under the IEEPA.

Wells expressed her relief at receiving a partial refund of $10,000, which covered the 20% tariff she paid on imported goods, along with added interest. She anticipates another $10,000 refund for additional IEEPA tariffs that her business had absorbed. The federal government has reported approving nearly 87,000 refund requests, totaling over 15 million duty payments under the IEEPA. This has resulted in refunds amounting to $35.5 billion, including interest.

Ryan Petersen, CEO of Flexport, a supply chain management company, mentioned that their clients have collectively received $137 million in IEEPA tariff refunds from the government. He commended the quick development and implementation of the technology required for these refunds, considering that government processes usually take much longer.

Despite the progress in refund distribution, importers are still awaiting approximately $166 billion in refunds owed by the Trump administration. Imports are currently subject to a 10% tariff imposed in February under Section 122 of the Trade Act of 1974. Additionally, investigations into foreign trade practices have been initiated under Section 301 of the same Act, allowing U.S. trade officials to retaliate against unfair practices.

Looking ahead, Wells expressed concerns about future tariffs, particularly with an upcoming order from Cambodia that will incur a 10% tariff. She highlighted the challenges of planning for unforeseen trade policies and the need to adapt to changing circumstances in the industry.

Overall, the process of refunding tariffs has been a significant undertaking, with billions of dollars being repaid to businesses across the country. As the government continues to navigate trade policies, businesses like Sarah Wells’ are bracing themselves for potential changes in the international trade landscape.