Federal Judge Orders Trump To Begin Refunds Of $130 Billion In Tariffs
On Wednesday evening, Judge Richard Eaton of International Trade ordered the Trump administration to begin the process of refunding 130 billion to global importers that were collected by his yo-yo tariffs.
After the Supreme Court invalidated Trump's tariffs, the case was kicked down to the EIT to determine how they should be handled.
Trump's egotistical Treasury Secretary played word games with CNN's Dana Bash on Sunday after she asked when he refund monies after the Supreme Court ruled against Trump's tariffs.
BASH: Question, will you refund the roughly $134 billion in revenue taken by these emergency tariffs?
BESSENT: Well, Dana, that's not the big question. Let's just level set here. What the Supreme Court did was a very narrow reading of the president's authority under the IEPA tariffs.
We have other tariff authorities which have been functioning, Section 232 tariffs, Section 301 tariffs, and Dana, when you say it's a big question, that's bad framing, because the Supreme Court didn't even address that.
The Supreme Court remanded it down to a lower court, and we will follow what they say, but that could be weeks or months when we hear them.
It wasn't bad framing, but a framing Bessent did not like. Estimates say we are owed $1700.