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32 min ago 2 min read
Industrial gas firms, manufacturers and importers can now file tariff claim rebates following the US Supreme Court’s that struck down certain International Emergency Economic Powers Act (IEEPA) tariffs.
Industrial products and manufacturing are among the top sectors due for refunds.
Companies can claim through the (through importers of record or licensed custom brokers) via the Consolidated Administration and Processing of Entries (CAPE) portal. Many filed protective actions prior to the ruling.
If the Customs and Border Protection (CBP) approves a claim, refunds will be issued electronically within 60 to 90 days.
CBP said in court filings that over 330,000 importers paid around $166bn on over 53 million shipments. Refunds of around $127bn are earmarked in the first phase.
In cases where importers passed IEEPA costs through, downstream purchasers and consumers are already suing, according to business law firm Snell & Wilmer.
“Importers should expect a second wave of claims seeking IEEPA tariff payments that were passed along to customers,” it states, adding that firms should take care when making data entries and not input false claims.
Some companies have expressed concern that a refund process that may take several months to complete won’t solve immediate cashflow problems.
A detailed question and answer document can be accessed .
The broader tariff environment remains fluid as replacement tariffs and new trade actions emerge.
