• Trump's administration has refunded approximately $100 billion in tariffs.
• The refunds follow a Supreme Court ruling striking down many of his tariff policies.
• About 60% of the total collected under these tariffs has been returned to businesses.
• Nearly $29 billion in potential refunds is still under review.
• Critics argue that companies may not pass savings to consumers.

The Trump administration has issued around $100 billion in tariffs refunds following a ruling by the US Supreme Court that deemed many of the tariffs imposed under emergency powers unlawful. This refund represents about 60% of the $166 billion collected from importers before the court's decision in February, according to court filings from the US Customs and Border Protection (CBP) agency, which stated that over three-quarters of the potential refunds have been processed as of July 31, 2023 according to BBC and Al Jazeera.

In a landmark decision, the Supreme Court ruled that Trump exceeded his authority under the International Emergency Economic Powers Act (IEEPA) when imposing tariffs on numerous trade partners. The ruling resulted in the illegalization of broad tariffs on over 90 countries, which Trump had argued were necessary for economic security. Consequently, CBP reported about $128.68 billion in potential refunds is being processed, with the bulk of completed refunds already directed to the Treasury Department, according to Al Jazeera and India Times.

While businesses have received the refunds, critics are concerned that there is no guarantee these savings will be passed on to consumers. Some companies could retain the funds, which raises questions about the broader impact on pricing and consumer costs. Following the Supreme Court ruling, Trump has attempted to impose new tariffs under different legal frameworks, indicating ongoing alteration in trade policies, as reported by BBC, Al Jazeera, and India Times.