π° Trump admin refunds $100B in cancelled tariffs
The Trump administration announced it is refunding roughly $100 billion from tariffs collected before the Supreme Court struck them down. This action was reported on Tuesday in a filing with the U.S. Court of International Trade. These refunds represent about 60% of the $166 billion collected from sweeping tariffs imposed in 2025. The tariffs were scrapped in late February after the high court ruled that the International Emergency Economic Powers Act did not authorize them. The administration is now managing the financial implications of this high-profile legal reversal. πΈ