American businesses are beginning to receive tariff refunds after courts ruled that key Trump‑era import duties were imposed unlawfully, triggering what could become one of the largest government refund processes in recent history.
The first confirmed payments are now landing in bank accounts as the long‑delayed refund process has officially begun.
Victor Schwartz, the CEO of wine importer VOS Selections, which was one of the small businesses fighting in the U.S. Supreme Court case, confirmed via his lawyers that a $110,000 tariff refund hit his bank account.
Why It Matters
The Supreme Court’s ruling that President Donald Trump unlawfully imposed tariffs under an emergency statute means the federal government must unwind some of its trade policy and return money it had already absorbed into the Treasury.
For affected companies, the tariff refunds may help stabilize balance sheets after several months of absorbing Trump’s tariff costs.
What To Know
The U.S. Treasury Department has started issuing tariff refunds to importers who paid duties later struck down by the courts.
Based on the Hill’s report, wine importer VOS Selections, has already received a six‑figure refund of $110,000, according to the company’s legal team.
Customs and Border Protection (CBP) confirmed that the first batch of refunds has been cleared and sent to the Treasury Department for payment, and federal officials estimate that $166 billion in tariff deposits may ultimately need to be refunded, plus interest.
What Trump Administration Did
During his second term, Trump imposed sweeping global tariffs using the International Emergency Economic Powers Act (IEEPA), which is a law typically reserved for national emergencies.
The tariffs applied broadly to imported goods, impacting thousands of U.S. companies that rely on foreign suppliers. Small businesses, including importers and manufacturers, argued that the administration exceeded its legal authority by using IEEPA to launch a global trade war without congressional approval.
How Courts Got Involved
In February, the U.S. Supreme Court ruled 6-3 that Trump could not use IEEPA to justify the global tariffs. The ruling vacated the legal basis for the tariffs and opened the door to refunds.
CBP was then ordered to develop a refund process and report back to a federal judge overseeing compliance.
A status update on refund progress is due to the court by May 26.
Why Wine Importers Were First
A lead plaintiff in the Supreme Court case was VOS Selections, a family‑owned company that imports wine from 16 countries across five continents, making it especially vulnerable to global tariffs. CEO Victor Schwartz became one of the most visible challengers and now one of the first recipients of a refund.
“Unfortunately for Americans consumers who had to absorb tariff-related prices, these refunds are payments going back to importers who paid tariffs later ruled illegal, not rebate checks to their customers,” Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek.
“If refunds move quickly, some businesses may lower pressure on prices as inventories increase. If they move slowly, this becomes another legal and political fight over who actually deserves the money.”
How Much Money Is Involved
Refunds are already being processed for $35.46 billion, according to the Treasury, and the estimated total tariff deposits collected were $166 billion. The refunds also include interest, though timing varies by case.
But Michael Ryan, a finance expert and the founder of MichaelRyanMoney.com, cautioned that companies are under “zero legal obligation” to pass the money to the households who absorbed the cost in higher prices for groceries, electronics, clothing and furniture.
However, the Budget Lab at Yale estimates these tariffs cost the average American household $2,500 in 2026.
“That money moved from consumers’ wallets to corporate importers’ balance sheets,” Ryan told Newsweek. “And the refund system is returning it to the same corporations, not the households.”
Who May Be Eligible for Refund
Refunds apply to importers who:
- Paid tariffs imposed under Trump’s IEEPA‑based trade actions
- Filed the necessary paperwork with Customs and Border Protection
- Successfully registered through CBP’s refund process portal
Consumers may benefit indirectly if businesses pass savings along, though price relief is far from guaranteed.
“Corporations will continue to come out ahead here. Many companies already paid the tariffs, and quite a few passed those costs directly onto consumers through higher prices,” Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek. “Now some of those same businesses may benefit again through refunds, while everyday consumers are once again left holding the bag.”
What People Need to Do to Get Refund
Businesses seeking refunds should confirm their eligibility and register with CBP.
Refunds are not automatic and require companies to submit documentation, including import records, tariff payments and claim forms. Incomplete or missing filings could delay refunds.
However, consumers are likely to experience even higher prices in the coming months.
“Between tariffs and growing tensions with Iran, prices are likely to continue moving higher,” Thompson said. “In the short term, inflation can help push nominal stock prices upward, until eventually consumers and businesses can no longer absorb the pressure.”
What Happens Next
- The court overseeing the process will review CBP’s progress later this month.
- Refunds are expected to roll out in phases, not all at once.
- The Trump administration is appealing a separate ruling that struck down newer tariffs imposed after the Supreme Court decision.
- A federal trade court has already ruled those newer tariffs unlawful, but the administration is fighting to keep them in place.
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