Tariff Refunds Begin: Feds to Return Over $166B Paid on Imports

By JCK News Desk | April 20, 2026

On Monday, the federal government began the long‑awaited process of refunding more than $166 billion in tariffs that the Supreme Court ruled were improperly collected, marking a pivotal moment for jewelry companies that absorbed or passed along the costs of last year’s sweeping trade measures.

U.S. Customs and Border Protection (CBP) said it will administer refunds through a new online portal known as CAPE. Importers can begin submitting claims immediately, and Customs said approved refunds should be issued within 60 to 90 days—though both government officials and trade attorneys have cautioned that delays are likely.

(Looking for guidance on the refund process? The U.S. Chamber of Commerce’s FAQ is a good place to start, as is one from accounting firm Clifton Larson Allen.)

CBP had estimated in court filings that more than 330,000 importers paid the tariffs on over 53 million shipments, according to Reuters. The approximately $166 billion that the government must return accrues interest—roughly $22 million per day—until it is repaid, said The New York Times, citing estimates from the Cato Institute.

Refunds will be rolled out in phases, according to the Associated Press (AP), with the first round covering more recent tariff payments or cases where duties were estimated but not yet finalized. Not all imports are immediately eligible, and claims must be precise; incorrect data or ineligible entries could result in partial or full rejection.

AP said the nearly 56,500 importers that had already registered in the CBP electronic payment system as of April 14 are eligible to receive roughly $127 billion, including interest—more than three‑quarters of the total expected refunds.

For jewelry manufacturers, wholesalers, and retailers that import finished pieces, gemstones or other materials, mountings, findings, or packaging, the refund process could unlock significant cash—albeit slowly. Refunds will go to the importer of record, the business that officially paid the tariffs. Whether retailers and consumers see any benefit depends on what those businesses do. Some companies, including FedEx, have said they plan to pass refunded amounts back to customers; others have made no such commitment.

The start of refunds also does not signal the end of tariff uncertainty. The Times reported that the Trump administration is pursuing alternative pathways to charge new duties, including a temporary 10% tariff on most imports and additional trade investigations that could lead to replacement tariffs later this year.

In striking down the original tariffs, the Supreme Court said Trump did not have authority under the International Emergency Economic Powers Act (IEEPA) to impose them.

(Image courtesy of Getty)

The JCK News Desk uses AI to help research and produce the first draft of articles. This story was then edited by staff writer David Blomquist.