US Treasury Refunds $22 Billion in Tariffs After Supreme Court Voids Part of Trump Trade Policy
Updated
Updated · Bloomberg · Jun 10
US Treasury Refunds $22 Billion in Tariffs After Supreme Court Voids Part of Trump Trade Policy
3 articles · Updated · Bloomberg · Jun 10
Summary
$22 billion in tariff revenue was returned to importers in May, marking the first large-scale repayments after the Supreme Court struck down a major element of Donald Trump’s trade policy.
Treasury data showed refunded customs duties jumped from $2 billion in April, underscoring how quickly the ruling translated into cash outflows.
The repayments came even as the federal budget picture improved elsewhere, with the deficit narrowing to $1.25 trillion in the first eight months of the fiscal year.
That year-to-date deficit was 9% lower than the same period a year earlier, showing the tariff refunds have not yet reversed the broader improvement in Treasury finances.