US Tariff: Will America return the billion dollars recovered from tariffs? Read what Trump replied

US President Donald Trump has expressed deep disappointment over the Supreme Court’s cancellation of his tariff orders. He said that the court did not give any clarity on the future of the huge amount collected through tariffs in the last one year. In response to the questions of reporters at the White House, Trump said, ‘We have collected hundreds of billions of dollars. So I ask, what will happen with that money? There was no discussion on this at all.’ He further said, “Don’t you think they could have written a line whether the money should be kept or returned? Now perhaps this issue will be stuck in litigation for the next two years. This is a bad decision, as if it was not written by sensible people.’

It was not made clear in the Supreme Court’s decision whether the amount recovered as tariff would be returned or not. It is estimated that an amount of more than $175 billion may come under the ambit of refund claims. US Treasury Secretary Scott Besant has said that if refunds have to be given after the decision, then the Treasury Department is ready for it, but the Supreme Court also admitted that this process can be complicated.

New 10 percent global tariff under section 122

Soon after the Supreme Court setback, Trump announced that he would sign a new executive order under Section 122 of the Federal Law, which would impose a global tariff of 10 percent. This will be in addition to the existing tariff. This step is being considered as the next phase of Trump’s aggressive trade policy. He said, ‘We may remain stuck in court for 5 years, but we will not back down.’

political reactions

While most Democrats welcomed the Supreme Court’s decision, Elizabeth Warren, the top Democrat on the Senate Banking Committee, warned that consumers and small businesses have no clear legal system to get back the amounts of tariffs already paid. This decision is not only a blow to the trade policy of the Trump administration, but also has a significant impact on the balance between the powers of the executive and the legislature.

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