US Refunds 140 Trillion Won in 'Liberation Day' Tariffs... 60% Returned After Supreme Court Halt

US Refunds 140 Trillion Won in 'Liberation Day' Tariffs... 60% Returned After Supreme Court Halt

The U.S. Donald Trump administration has reportedly refunded 100 billion dollars (approximately 143 trillion won) out of the taxes collected as 'Liberation Day' reciprocal tariffs.

The Financial Times (FT) reported this on the 4th (local time), citing data submitted by the U.S. Customs and Border Protection (CBP) to the U.S. Court of International Trade.

This amounts to about 60% of the 165 billion dollars (approximately 235.5 trillion won) collected through 'Liberation Day' tariffs.

Considering that the amount of refund applications received by CBP to date totals 128 billion dollars (approximately 182.7 trillion won), the refunded amount is expected to increase further.

Previously, in February, the U.S. Supreme Court ruled that the Trump administration's imposition of high tariffs on major trading partners based on the International Emergency Economic Powers Act (IEEPA) was an action beyond its authority.

Accordingly, the U.S. Court of International Trade ordered the Trump administration to proceed with tariff refund procedures for importers.

At the time, the Trump administration claimed that related lawsuits could be prolonged and that refunds would take a long time, but the actual refunds proceeded faster than expected.

However, it is also pointed out that since the refund targets were limited to 'importers' who directly imported goods, it is difficult for consumers or small and medium-sized enterprises who actually bore the tariff burden to receive refunds.

Representative Greg Casar (Democrat, Texas) asserted, "Only large corporations are receiving refunds," adding, "The benefits should also go to consumers who bore the tariff burden."

Meanwhile, after the reciprocal tariffs were invalidated, the Trump administration imposed new tariffs of 10-12.5% on various countries using other legal grounds.

However, regarding the new tariffs, 25 states led by Democratic governors have filed lawsuits, claiming that these are actions beyond the president's authority.