Trump admin refunds $100 billion in 'liberation day' tariffs

An American flag flies near the Ever Memo container ship at the Port of Los Angeles on May 28, 2026 in Los Angeles, California. Mario Tama | Getty ImagesThe Trump administration said it has refunded about $100 billion of the tariff revenue that was collected before President Donald Trump's "liberation day" duties were struck down by the Supreme Court.The figure, reported Tuesday in a filing in the U.S. Court of International Trade, represents about 60% of the roughly $166 billion the government says it raked in from the sweeping tariffs Trump imposed in 2025 using the International Emergency Economic Powers Act, or IEEPA. Those tariffs were scrapped in late February after the high court ruled IEEPA did not authorize them. About two weeks later, federal Judge Richard Eaton ordered that tariffs collected under IEEPA must be refunded to the importers.Trump, who placed heavy-handed tariffs at the center of his economic and foreign policy agendas, has vented his rage over the court rulings, and his administration has recently taken a series of steps to effectively re-create the IEEPA tariff regime using other legal authorities."Tariffs have been incredible. We've taken in hundreds of bi...