Tariff refund delays could cost U.S. taxpayers $700 million a month in interest, report finds

Teona Gherasim

The federal government is estimated to owe American businesses up to $175 billion in tariff refunds after the Supreme Court  struck down  much of the Trump administration's import duties last month. But the U.S. could end up owing considerably more money, according to a new analysis — in interest payments.  Research from the Cato Institute, a nonpartisan think tank in Washington, D.C., said that the delay in refunding companies for emergency tariffs invalidated by the high court is costing U.S.

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