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The Economic Times

Global Business / The Economic Times

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US refunds $22 billion in first repayments of Trump's tariffs in May

US authorities have begun refunding billions in customs duties. This follows a Supreme Court decision invalidating President Donald Trump's global tariffs. May saw $22 billion in refunds, matching duties collected. The government is processing repayments for $166 billion collected under a previous act. However, appeals could impact ongoing reimbursements. The budget deficit has also seen a reduction.

11 Jun 2026 6:27 am