Feds have rejected 15% of businesses' tariff refund claims [View all]
Source: msn/CBS News
12h
Roughly 15% of tariff refund requests have been rejected since a government reimbursement portal launched on April 20, according to U.S. Customs and Border Protection (CBP).
As of April 26, the federal agency had received more than 75,000 refund requests from U.S. businesses and other importers. More than 47,000 claims encompassing some 11 million tariff payments were properly filed, CBP official Brandon Lord said in a filing with the Court of International Trade on Tuesday.
The agency launched the Consolidated Administration and Processing of Entries tariff refund system, known as CAPE, to comply with an order issued following the Supreme Court's February ruling striking down emergency levies imposed by President Trump. The agency launched the new tariff refund hub, known as CAPE, for Consolidated Administration and Processing of Entries, to comply with an order following the Supreme Court's February ruling striking down emergency levies imposed by President Trump.
Nick Richards, a partner at law firm Greenspoon Marder who has advised clients seeking tariff refunds, told CBS News that some businesses are likely making errors in their claims submissions. In the first phase of the refund process, CAPE is only accepting applications for tariffs that have been finalized by CBP or estimated duties that can still be estimated.
Read more: https://www.msn.com/en-us/money/markets/feds-have-rejected-15-of-businesses-tariff-refund-claims/ar-AA21X7kb
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