World · 20 April 2026
US launches $166bn tariff refund system on Monday
British exporters selling into the US could see billions flow back to their American customers within weeks. US Customs and Border Protection opens its new CAPE refund portal at 8pm ET Monday, following a Supreme Court ruling that struck down Trump's IEEPA tariffs as unlawful. Over 330,000 importers paid $166 billion on 53 million shipments. Refunds will take 60 to 90 days with interest.
Reported by CNBC · How we write briefs