The US Customs and Border Protection agency is working on a system to refund $166bn in tariffs to over 330,000 importers, following a Supreme Court ruling against President Trump’s use of the International Emergency Economic Powers Act. The agency estimates that setting up the system will take at least 45 days to automate the process and save millions of hours of manual labor. Importers will need to register electronically to receive their refunds, with minimal submission required.
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