'Liberation Day' tariff refunds hit $100bn

Wednesday, August 05, 2026

Donald Trump's administration has paid back $100bn (78bn) in "Liberation Day" tariff refunds to businesses through US customs officials. This represents roughly 60% of all tariff revenue collected by the government under the policy, according to a recent court filing from US Customs and Border Protection.

Posted by REDIAL at 02:26 PM | 2 COMMENTS | permalink | Comment on This Entry |

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However, a significant chunk of money remains unpaid. Nearly $29bn in potential refunds is undergoing review by trade authorities, while another $1.6bn remains stuck because importers have not yet supplied their banking details. The repayments follow a major Supreme Court decision in February, in which judges ruled that broad import tariffs introduced under economic powers were unlawful.

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This money was stolen form everyday Americans who bought goods at inflated prices and then "refunded" to these companies after they passed their cost increases on to consumers. Perhaps the single largest theft in history. People should be outraged at this.

#1 | Posted by qcp at 2026-08-05 03:04 PM | Reply

This is the best Reverse Robin Hood since the Housing Bubble!
Then, the Banks got made whole, while consumers were left with over-inflated mortgage payments.
Now, Businesses get made whole, while consumers are left with tariff-inflated consumer goods payments.

Where I'm at, there is a plan to return tariffs to customers provided Trump returns it to us. We had to spend a million tweaking our business processes, just to be able to collect the tariffs. We won't be getting a refund for that wasted effort.

#2 | Posted by snoofy at 2026-08-05 03:09 PM | Reply