US Treasury Says It Can Handle Tariff Refunds
The US Treasury has said it has sufficient funds to issue refunds if the Supreme Court strikes down tariffs imposed during Donald Trump’s presidency. The statement comes as the top court examines legal challenges to tariffs introduced under emergency powers, which critics argue bypassed Congressional approval.
Treasury officials said that even if courts rule against the tariffs and order refunds running into tens of billions of dollars, the government has enough cash to manage the repayments without financial strain. However, they cautioned that refunds would not be immediate and could take several months or longer to process.
Supreme Court Case and Possible Impact
The Supreme Court is reviewing whether the tariffs were lawfully imposed. If the court rules against the government, companies that paid duties on imported goods could become eligible for refunds. Legal experts say the total value of potential refunds could be substantial, depending on the scope of the ruling.
Refund Timeline and Process
Officials said refunds would likely be issued in phases rather than as a lump sum. The process would involve verifying claims from businesses and following established procedures, which could extend the timeline.
The Treasury stressed that while the ruling could have administrative and economic implications, it would not threaten the government’s overall financial position.
