$20 billion in tariff refunds have been paid so far, with more on the way

Trump tariffs$20 billion in tariff refunds paid so far, with more on the wayThe Trump administration said more than 4,000 importers who applied for refunds had not provided the bank information needed to process their refunds.Listen to this article with a free account00:0000:00Container ships docked at the Port of Los Angeles on April 29.Eric Thayer / Los Angeles Times via Getty Images fileShareAdd NBC News to GoogleMay 27, 2026, 9:50 AM EDTBy Steve KopackThe Trump administration has refunded more than $20 billion so far in tariffs to importers and shippers, according to a court filing, after the Supreme Court struck down the cornerstone of President Donald Trump’s trade policy in February.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.The administration had relied on authority under the International Emergency Economic Powers Act to collect more than $165 billion in country-specific tariffs from importers since the start of Trump’s term. The high court found that these tariffs exceeded what IEEPA permitted the president to do. Now, those tariffs are being refunded to importers.“Approximately $85 billion in both potential and certified refunds have been accepted for processing” so far, said Brandon Lord, executive director of trade programs at the U.S. Customs and Border Protection agency, in a court filing Tuesday. Citing data through May 22, Lord said $20.6 billion in refunds of the $85 billion had been “completed.” However, he wrote, “4,185 consolidated refunds have not been transmitted to Treasury” for processing yet because the importers that had applied for these refunds had not provided their bank account information.Hundreds of companies have lined up to get their money back, including Costco, Walmart, Home Depot, Target, General Motors, Ford Motor Company, FedEx, UPS and DHL. Last month, Trump said he would “remember” which companies decided not to ask for refunds, implying that he would view them favorab...