The Supreme Court overturned Trump's tariffs: $206 billion in tariff refunds have been initiated for payment, with an additional $850 billion in processing pool.

The U.S. Customs and Border Protection (CBP) stated in a court filing on Tuesday that approximately $20.6 billion in funds are being disbursed to importers who have successfully submitted claims using the new online portal developed by the agency. However, in the latest submission to the U.S. Court of International Trade, the government also acknowledged significant errors in a report submitted to federal judges overseeing the tariff refund program, indicating that the amount of refunds processed in the initial stages of the program was much lower than previously estimated. Two weeks ago, a U.S. trade official had stated that over $35.5 billion in refund claims were being processed. But according to Brandon Lord, Executive Director of the CBP Trade Program Office, the number was "inflated by about $10 billion." The actual amount is closer to $25 billion. Lord stated in reference to the Customs and Trade Automated Interface System (CAPI): "This does not reflect any errors in CAPE processing or refunds, but rather errors in the data queries used to calculate this figure." The system was developed following the Supreme Court's decision to overturn most of President Trump's tariffs. As of May 22nd, CAPI has processed potential and certified refund amounts totaling around $85 billion. The $20.6 billion figure reflects funds that have entered the final stages of disbursement to importers. Lord stated that the figure includes both principal tariff amounts and interest, but did not provide specific details on these amounts. CBP is currently disbursing refunds to importers who have paid up to $166 billion in taxes in over 53 million import filings. This work is being overseen by the U.S. Court of International Trade, which has requested regular updates from the agency. In the latest developments on Tuesday, nearly 16 million filings subject to tariffs under the International Emergency Economic Powers Act (IEEPA) have been processed in the first phase of the refund work, with 8.5 million of these filings being reprocessed duty-free and certified for payment to importers. Lord also noted in Tuesday's filing that over 4,000 combined refund items have not been sent to the Department of the Treasury yet due to importers not setting up digital payment capabilities.