Paid IEEPA tariffs on overseas purchases? Here is what shipping companies are saying about refunds
Briefly

Paid IEEPA tariffs on overseas purchases? Here is what shipping companies are saying about refunds
"After Trump ended the de minimis exemption last year, purchasing an item straight from an international vendor, regardless of the item's value, meant incurring International Emergency Economic Powers Act tariffs. Now, thanks to a ruling by the Supreme Court that overturned Trump's IEEPA tariffs, and a ruling by the Court of International Trade ruled that all tariffs paid under IEEPA must be returned, buyers may be able to collect a refund."
"The Customs and Border Protection said in a declaration on March 6 that it could start rolling out refunds as soon as April, after some technological updates to its system. The CIT estimates that the CBP owes $165 billion in duties that must be refunded with interest, with about $650 million accruing each month."
"FedEx was the first company to file a lawsuit with the CIT to secure 'a full refund' after the Supreme Court decision. A spokesperson for FedEx told Business Insider that the lawsuit was 'on behalf of our customers' and that the company is committed to returning tariff costs."
Following the Supreme Court's overturn of Trump's IEEPA tariffs and the Court of International Trade's ruling that all tariffs paid under IEEPA must be refunded, consumers who purchased items from international vendors may be eligible for refunds. The de minimis exemption ended in 2024, requiring tariffs on all overseas purchases regardless of value. The Customs and Border Protection announced it could begin processing refunds in April after system updates. The CIT estimates CBP owes $165 billion in duties plus approximately $650 million in monthly interest accrual. Despite a new 10% global tariff under Section 122, shipping companies including FedEx and USPS are willing to help consumers recover IEEPA tariff payments.
Read at Business Insider
Unable to calculate read time
[
|
]