Fact Finder
IEEPA tariff refunds: CBP certified $128.4 billion including interest for Treasury disbursement as of Nov. 5
The Supreme Court held on Feb. 20, 2026 that IEEPA does not authorize presidential tariffs. Court records and CBP declarations document the refund process; certification for Treasury disbursement is not proof every recipient has been paid.
Developing
Next: the government's response to the class motion is due Dec. 9, 2026.
- $166BDuties and estimated depositsCBP, as of March 4, 2026
- $128.4BRefunds sent to TreasuryDuties plus interest, as of Nov. 5, 2026
- 330,000+Importers of recordCBP, as of March 4, 2026
- Dec. 9Government response dueClass motion, Freestyle World
Based on court records, sworn CBP declarations and dated agency notices. Party arguments and outside estimates are attributed. This page does not give legal advice.
About this format and its limits
This page tracks the refunds of tariffs the Supreme Court ruled unauthorized in Learning Resources v. Trump, and the tariffs that replaced them.
We independently retrieved the Supreme Court opinion, trade court orders, party filings and CBP declarations. Refund figures retain the dates and payment stages reported in those documents.
Economists’ estimates and law-firm interpretations are attributed. Historical filings do not establish the current outcome of every related case.
At a glance
- The Supreme Court ruled 6-3 on Feb. 20, 2026 that IEEPA does not authorize the President to impose tariffs. It did not order refunds. S1S2
- CBP reported approximately $166 billion in duties and estimated deposits on over 53 million entries involving over 330,000 importers as of March 4. As of Nov. 5, about $128.4 billion including interest had been certified and sent to Treasury for disbursement. S19S7
- CBP pays refunds to importers of record or their designated notify parties. The Oct. 8 class definition covers specified duty payments by importers without separate suits; the Nov. 10 motion seeks class-wide relief and a broader definition. S9S4S8
- In a May 29 filing, the government argued that CBP lacks authority to refund finally liquidated entries without a court order and that a universal order exceeds the court’s authority. S5
- The Feb. 20 proclamation set a 10% Section 122 surcharge from Feb. 24 to 12:01 a.m. Eastern daylight time July 24. USTR’s July 23 notice imposed Section 301 duties from July 24, generally 10% or 12.5%, with exemptions and specified net-of-MFN rates. Court challenges followed. S11S15S21S13
- Next dated step: the government's response to the class motion is due Dec. 9, 2026. S6
Timeline
- IEEPA tariff period used in the class definition begins The certified class covers duties paid from Feb. 1, 2025. S4 14 related claims: Refunds and CAPE
- Freestyle World class action filed Filed one day before the ruling. S4 8 related claims: Court fight over refunds
- Supreme Court rules 6-3 against the IEEPA tariffs Learning Resources v. Trump. S1S2 3 related claims: The ruling
- Section 122 surcharge proclaimed 10% for 150 days, effective Feb. 24. S11S12 8 related claims: Replacement tariffs
- Trade court orders liquidation without IEEPA duties S3S4 14 related claims: Refunds and CAPE
- USTR opens 60 forced-labor Section 301 investigations S14 8 related claims: Replacement tariffs
- Trade court orders reliquidation of liquidated entries S4 14 related claims: Refunds and CAPE
- CAPE refund system opens S7 14 related claims: Refunds and CAPE
- Trade court rules Section 122 surcharge unauthorized (2-1) Relief covered Washington State and two businesses; other states’ claims were dismissed. S21 8 related claims: Replacement tariffs
- Government appeals the refund order to the Federal Circuit Appeal No. 26-1895. S4 8 related claims: Court fight over refunds
- Section 301 duties take effect Generally 10% or 12.5%, subject to exemptions and specified net-of-MFN rates. The Section 122 proclamation specified an endpoint of 12:01 a.m. Eastern daylight time that date. S15S11 8 related claims: Replacement tariffs
- CBP: about $100 billion certified and sent to the Treasury Duties plus interest. S22 14 related claims: Refunds and CAPE
- New York announces 25-state lawsuit over Section 301 duties S13 8 related claims: Replacement tariffs
- CBP: about $106.6 billion certified and sent to the Treasury S23 14 related claims: Refunds and CAPE
- CAPE Phase 3 opens for plaintiffs with court orders S7 14 related claims: Refunds and CAPE
- Trade court certifies the importer class S4 8 related claims: Court fight over refunds
- CBP: about $128.4 billion certified and sent to the Treasury Duties plus interest. S7 14 related claims: Refunds and CAPE
- Class asks for a class-wide refund order S8 8 related claims: Court fight over refunds
- Government Answer due S6 8 related claims: Court fight over refunds
- Due: government response to the class motion Set by the Nov. 9 scheduling order. S6 8 related claims: Court fight over refunds
- Due: parties propose a progress-reporting mechanism S6 8 related claims: Court fight over refunds
Evidence
Read the evidence by kind
What the records show
Findings in court orders and figures in CBP's sworn declarations and notices.
- C1 Official On Feb. 20, 2026 the Supreme Court held that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose tariffs. The vote was 6-3: Chief Justice Roberts wrote for the Court, joined in key parts by Justices Sotomayor, Kagan, Gorsuch, Barrett and Jackson; Justices Thomas, Kavanaugh and Alito dissented.
- C2 Official The Supreme Court syllabus describes two sets of IEEPA tariffs initially imposed in 2025: drug-trafficking duties of 25% on most Canadian and Mexican imports and 10% on most Chinese imports, and reciprocal duties of at least 10% on imports from all trading partners. It notes subsequent increases, reductions and other modifications.
- C3 Official The ruling did not order refunds. The principal dissent says the Court says nothing about whether or how the government should return the money, and that the refund process is likely to be a mess.
- C4 Official On March 4, 2026, Judge Richard Eaton of the U.S. Court of International Trade ordered CBP to liquidate unliquidated entries and reliquidate entries whose liquidation was not final without IEEPA duties. He wrote that all affected importers of record were entitled to the benefit of the Supreme Court ruling, and that the Chief Judge had indicated he would hear IEEPA refund cases.
- C5 Official In a March 6, 2026 declaration, CBP reported that, as of March 4, approximately $166 billion in IEEPA duties and estimated duty deposits had been collected on over 53 million entries involving over 330,000 importers.
- C6 Official The trade court’s Oct. 8 opinion recounted a March 2026 estimate that interest on the unlawfully imposed duties was accruing at approximately $650 million per month, based on a roughly 4.5% interest rate.
- C7 Official On April 17, 2026 the trade court ordered that liquidated entries, including finally liquidated ones, be reliquidated without the IEEPA duties.
- C8 Official CBP's refund system, called CAPE (Consolidated Administration and Processing of Entries), opened to importers and their brokers on April 20, 2026. Importers file a CAPE declaration listing their entries, and refunds are batched by importer of record.
- C9 Official On June 3, 2026 the government appealed to the Federal Circuit the part of the order that covers liquidation or reliquidation of all affected entries (appeal No. 26-1895). As of Oct. 8 the court said briefs had been filed and a decision was pending.
- C11 Official On Oct. 8, 2026 the trade court certified a class in Freestyle World, Inc. v. CBP: all importers of record who paid the challenged IEEPA duties between Feb. 1, 2025 and Feb. 19, 2026, excluding any entity that filed its own suit to recover them.
- C13 Official CBP reported that, as of Oct. 2, 2026, about $136.6 billion in potential and certified refunds had been accepted in CAPE, including about $126 billion in duties plus interest certified and sent to Treasury for disbursement. Separately, the trade court’s Oct. 8 opinion estimated that about $30 billion in unlawfully collected duties would remain in Treasury if CAPE ceased operating then.
- C14 Official As of Nov. 5, 2026, CBP says 321,021 CAPE declarations were submitted (226,899 passed file checks), about $138.3 billion in potential and certified refunds had been accepted, and about $128.4 billion in refunds (duties plus interest) had been certified and sent to the Treasury for payment.
- C15 Official As of Nov. 5, 2026, CBP reported 18,072 refunds totaling approximately $737 million had not been sent to Treasury because the importer of record or its authorized CBP Form 4811 designee had not provided ACH account information.
- C16 Official CBP reported that CAPE Phase 3, deployed Oct. 6, 2026, covers finally liquidated entries of plaintiffs for which the court has ordered reliquidation. As of Nov. 5, it had accepted 4,579 declarations covering 16,011,353 entries. CBP said access was rolling: plaintiffs submitting valid importer numbers by Aug. 27 could file, while later submitters would gain access later. The class’s Nov. 10 motion sought Phase 3 access for class members.
- C17 Official As of Oct. 7, 2026, more than 4,000 nearly identical refund suits had been filed, involving around 7,000 plaintiffs.
- C19 Official Under the court's Nov. 9, 2026 scheduling order, the government's Answer is due Nov. 13, its response to the class motion is due Dec. 9, and by Dec. 14 the parties must propose a way to report progress.
- C20 Official CBP says each refund includes interest and may be netted against other duties owed on the entry. An importer that disagrees with the amount can file a protest within 180 days of liquidation or reliquidation.
- C21 Official CBP says that for goods covered by framework agreements (European Union, Japan, South Korea, Switzerland and Liechtenstein) only the IEEPA part of the combined 15% rate is refunded; the regular duty stays.
- C22 Official On Feb. 20, 2026, the day of the ruling, the President proclaimed a 10% import surcharge under Section 122 of the Trade Act of 1974 for 150 days, effective Feb. 24, 2026.
- C24 Official On May 7, 2026, the trade court ruled 2-1 against the Section 122 surcharge. Relief covered Washington State, Burlap and Barrel, Inc., and Basic Fun, Inc.; the other state plaintiffs’ claims were dismissed for lack of standing.
- C25 Official The Feb. 20 proclamation set the Section 122 surcharge’s effective period from 12:01 a.m. Eastern standard time on Feb. 24, 2026 through 12:01 a.m. Eastern daylight time on July 24, 2026, unless changed earlier or extended by Congress.
- C26 Official USTR opened 60 Section 301 investigations on March 12, 2026. On June 2 it determined that the investigated practices concerning forced-labor import prohibitions were actionable. Its July 23 notice imposed duties effective July 24, generally at 10% or 12.5%, with product exemptions and rates net of ordinary MFN duties for specified economies and products.
- C29 Official The trade court describes importers of record as having deposited the IEEPA duties. CBP says refunds are paid to the importer of record or its designated notify party, not automatically to retail customers who bought imported goods.
- C34 Official CBP’s sworn declarations report refunds (duties plus interest) certified and sent to Treasury for disbursement of about $100 billion as of July 31, $106.6 billion as of Aug. 21, $122 billion as of Sept. 11, $126 billion as of Oct. 2, $127.7 billion as of Oct. 23 and $128.4 billion as of Nov. 5, 2026.
- C35 Official Treasury’s Monthly Treasury Statement shows customs-duty refunds of about $22.0 billion in May, $49.2 billion in June, $33.4 billion in July and $10.5 billion in August 2026, about $115.1 billion in total.
- C36 Documentary Company filings report IEEPA tariff refunds: Walmart about $2.9 billion received in the quarter ended July 31; Target $994 million recognized in the quarter ended Aug. 1; Home Depot about $730 million received as of Aug. 2; Amazon about $640 million received in the second quarter. Nike recognized a $986 million benefit, of which it had received $302 million by May 31. Ford recorded about $1.3 billion and expected about $500 million in IEEPA reimbursements in the second half of 2026.
- C39 Official The Section 122 proclamation, published at 91 FR 9339, set a 10% ad valorem surcharge; Section 122 allows up to 15%. Gibson Dunn’s May 13 alert said the President had threatened to raise the surcharge to 15% but had not done so. The Federal Register contains no later proclamation changing the rate.
What the parties argue
Legal positions of the government, the class and the states, labelled by who makes them.
- C10 Argument In its May 29, 2026 filing, the Justice Department argued that CBP has no authority to reliquidate or refund finally liquidated entries without a court order, and that a universal order covering importers who did not sue exceeds the trade court's authority under Trump v. CASA.
- C12 Argument The government opposed class certification. The court records its arguments that the request came too late and that it was really a request for money damages, which the court rejected.
- C18 Testimony On Nov. 10, 2026, Freestyle World asked for an order giving class members access to CAPE Phase 3 and full refunds with interest, including entries liquidated more than 80 days earlier. It also requested removal of the class definition’s date restrictions and an express tolling provision.
- C23 Argument The proclamation says the President's advisers determined that the U.S. has large and serious balance-of-payments deficits, citing among other things a goods trade deficit of about $1.2 trillion in 2024.
- C27 Argument USTR says the action will begin to correct what it calls both a human rights abuse and a distortive trade practice.
- C28 Argument On Aug. 3, 2026, New York’s Attorney General announced that New York and 24 other states had sued over the Section 301 duties in the trade court. The announcement describes the states’ argument that the forced-labor rationale is a pretext for reimposing sweeping tariffs.
- C31 Argument The principal dissent noted that some importers may have already passed on costs to consumers or others.
- C33 Expert Lieberman PLLC’s analysis, reflecting the case as of Nov. 10, 2026, says the earliest two-year filing deadlines for individual refund suits fall in early February 2027 and that tolling has not been decided in this case. The class’s Nov. 10 motion argues that certification already tolled claims and requests an express tolling provision.
Estimates
Projections and estimates by economists and others, labelled by institution.
- C30 Expert In a Feb. 12, 2026 post on the New York Fed’s Liberty Street Economics blog, Mary Amiti, Chris Flanagan, Sebastian Heise and Columbia University’s David E. Weinstein estimated that nearly 90% of the 2025 tariffs’ economic burden fell on U.S. firms and consumers. Their estimated U.S. importer incidence was 94% in January–August and 86% in November 2025.
- C32 Expert On the day of the ruling, the Penn Wharton Budget Model projected that reversing the IEEPA tariffs would generate up to $175 billion in refunds.
- C33 Expert Lieberman PLLC’s analysis, reflecting the case as of Nov. 10, 2026, says the earliest two-year filing deadlines for individual refund suits fall in early February 2027 and that tolling has not been decided in this case. The class’s Nov. 10 motion argues that certification already tolled claims and requests an express tolling provision.
Not known
What the sources do not establish.
- When the court will rule. The Nov. 9 scheduling order sets no reply-brief deadline, hearing date or decision date for the class motion. It does not promise a ruling after the Dec. 9 response. S6
- The Federal Circuit appeal. The Oct. 8 opinion described appeal No. 26-1895 as awaiting a decision. The documents checked here do not establish its subsequent disposition or a decision date. S4
- Exactly how much is still owed. CBP’s Nov. 5 figure of $128.4 billion is duties plus interest certified for Treasury disbursement; its March 4 estimate of $166 billion includes duties and estimated deposits. These figures cannot establish the current unpaid-duty balance by subtraction. The court estimated about $30 billion would remain if CAPE stopped on Oct. 8. S4S7
- Whether shoppers get anything. The reviewed class filings and orders do not establish how much refunded money will reach retail customers. CBP’s recipient rules alone do not establish retailers’ later pricing or payment decisions. S4S8
- The replacement duties. The May 7 Section 122 opinion and Aug. 3 state announcement establish earlier litigation events, not the current disposition of the Section 122 appeal or Section 301 challenges. Those outcomes are not established here. S21S13
- Treasury versus CBP refund totals. Treasury’s customs-refund outlays (about $115.1 billion May–August) and CBP’s certified-refund figures ($106.6 billion as of Aug. 21) measure different things: Treasury counts all customs refunds paid, CBP counts IEEPA refunds plus interest sent to Treasury. The records do not reconcile the two. S26S23
Claims
Each claim shows the kind of evidence behind it and how well it is sourced. Sourcing describes the reporting, not whether a claim is true. Open Details for who says so, excerpts and sources.
Showing 8 of 37 claims
The ruling 0 of 3 claims
- C1
On Feb. 20, 2026 the Supreme Court held that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose tariffs. The vote was 6-3: Chief Justice Roberts wrote for the Court, joined in key parts by Justices Sotomayor, Kagan, Gorsuch, Barrett and Jackson; Justices Thomas, Kavanaugh and Alito dissented.
Details for claim C1
“IEEPA does not authorize the President to impose tariffs.”
Opened by us: syllabus of the slip opinion, p. 2. S1 - C2
The Supreme Court syllabus describes two sets of IEEPA tariffs initially imposed in 2025: drug-trafficking duties of 25% on most Canadian and Mexican imports and 10% on most Chinese imports, and reciprocal duties of at least 10% on imports from all trading partners. It notes subsequent increases, reductions and other modifications.
Details for claim C2
- C3
The ruling did not order refunds. The principal dissent says the Court says nothing about whether or how the government should return the money, and that the refund process is likely to be a mess.
Details for claim C3
“The Court says nothing today about whether, and if so how, the Government should go about returning the billions”
Opened by us: Kavanaugh, J., dissenting, final pages. S1 Sources S1 Supreme Court of the United States, 20 Feb 2026 S2 Penn Wharton Budget Model, 20 Feb 2026
Refunds and CAPE 0 of 14 claims
- C4
On March 4, 2026, Judge Richard Eaton of the U.S. Court of International Trade ordered CBP to liquidate unliquidated entries and reliquidate entries whose liquidation was not final without IEEPA duties. He wrote that all affected importers of record were entitled to the benefit of the Supreme Court ruling, and that the Chief Judge had indicated he would hear IEEPA refund cases.
Details for claim C4
- C5
In a March 6, 2026 declaration, CBP reported that, as of March 4, approximately $166 billion in IEEPA duties and estimated duty deposits had been collected on over 53 million entries involving over 330,000 importers.
Details for claim C5
This is the duties figure. It does not include interest.
Sources S19 U.S. Customs and Border Protection (court filing), 6 Mar 2026
- C6
The trade court’s Oct. 8 opinion recounted a March 2026 estimate that interest on the unlawfully imposed duties was accruing at approximately $650 million per month, based on a roughly 4.5% interest rate.
Details for claim C6
- C7
On April 17, 2026 the trade court ordered that liquidated entries, including finally liquidated ones, be reliquidated without the IEEPA duties.
Details for claim C7
- C8
CBP's refund system, called CAPE (Consolidated Administration and Processing of Entries), opened to importers and their brokers on April 20, 2026. Importers file a CAPE declaration listing their entries, and refunds are batched by importer of record.
- C13
CBP reported that, as of Oct. 2, 2026, about $136.6 billion in potential and certified refunds had been accepted in CAPE, including about $126 billion in duties plus interest certified and sent to Treasury for disbursement. Separately, the trade court’s Oct. 8 opinion estimated that about $30 billion in unlawfully collected duties would remain in Treasury if CAPE ceased operating then.
Details for claim C13
- C14
As of Nov. 5, 2026, CBP says 321,021 CAPE declarations were submitted (226,899 passed file checks), about $138.3 billion in potential and certified refunds had been accepted, and about $128.4 billion in refunds (duties plus interest) had been certified and sent to the Treasury for payment.
Details for claim C14
The $128.4 billion includes interest, so it cannot be subtracted directly from the $166 billion duties estimate.
Sources S7 U.S. Customs and Border Protection (court filing), 10 Nov 2026
- C15
As of Nov. 5, 2026, CBP reported 18,072 refunds totaling approximately $737 million had not been sent to Treasury because the importer of record or its authorized CBP Form 4811 designee had not provided ACH account information.
Details for claim C15
- C16
CBP reported that CAPE Phase 3, deployed Oct. 6, 2026, covers finally liquidated entries of plaintiffs for which the court has ordered reliquidation. As of Nov. 5, it had accepted 4,579 declarations covering 16,011,353 entries. CBP said access was rolling: plaintiffs submitting valid importer numbers by Aug. 27 could file, while later submitters would gain access later. The class’s Nov. 10 motion sought Phase 3 access for class members.
Details for claim C16
- C20
CBP says each refund includes interest and may be netted against other duties owed on the entry. An importer that disagrees with the amount can file a protest within 180 days of liquidation or reliquidation.
Details for claim C20
- C21
CBP says that for goods covered by framework agreements (European Union, Japan, South Korea, Switzerland and Liechtenstein) only the IEEPA part of the combined 15% rate is refunded; the regular duty stays.
Details for claim C21
- C32
On the day of the ruling, the Penn Wharton Budget Model projected that reversing the IEEPA tariffs would generate up to $175 billion in refunds.
Details for claim C32
A projection, made before CBP's March estimate of $166 billion in duties.
- C34
CBP’s sworn declarations report refunds (duties plus interest) certified and sent to Treasury for disbursement of about $100 billion as of July 31, $106.6 billion as of Aug. 21, $122 billion as of Sept. 11, $126 billion as of Oct. 2, $127.7 billion as of Oct. 23 and $128.4 billion as of Nov. 5, 2026.
Details for claim C34
Each figure includes interest and counts refunds sent to Treasury, not confirmed receipt by every importer. CBP says Treasury reports these refunds are being regularly disbursed.
Sources S22 U.S. Customs and Border Protection (court filing), 4 Aug 2026 S23 U.S. Customs and Border Protection (court filing), 25 Aug 2026 S24 U.S. Customs and Border Protection (court filing), 15 Sep 2026 S20 U.S. Customs and Border Protection (court filing), 6 Oct 2026 S25 U.S. Customs and Border Protection (court filing), 26 Oct 2026 S7 U.S. Customs and Border Protection (court filing), 10 Nov 2026
- C35
Treasury’s Monthly Treasury Statement shows customs-duty refunds of about $22.0 billion in May, $49.2 billion in June, $33.4 billion in July and $10.5 billion in August 2026, about $115.1 billion in total.
Details for claim C35
Treasury’s figure covers all customs-duty refunds, not only IEEPA refunds, and is a cash-outlay measure; it differs in scope from CBP’s certified-refund totals.
Sources S26 U.S. Department of the Treasury, Bureau of the Fiscal Service, 31 Aug 2026
Court fight over refunds 8 of 8 claims
- C9
On June 3, 2026 the government appealed to the Federal Circuit the part of the order that covers liquidation or reliquidation of all affected entries (appeal No. 26-1895). As of Oct. 8 the court said briefs had been filed and a decision was pending.
Details for claim C9
- C10
In its May 29, 2026 filing, the Justice Department argued that CBP has no authority to reliquidate or refund finally liquidated entries without a court order, and that a universal order covering importers who did not sue exceeds the trade court's authority under Trump v. CASA.
Details for claim C10
This is a party's legal argument, not a finding.
“CBP has no authority to reliquidate or refund money without a court order.”
Opened by us: DOJ motion, ECF No. 88, p. 2. S5 Sources S5 U.S. Department of Justice (court filing), 29 May 2026 S10 Fortune, 12 Nov 2026
- C11
On Oct. 8, 2026 the trade court certified a class in Freestyle World, Inc. v. CBP: all importers of record who paid the challenged IEEPA duties between Feb. 1, 2025 and Feb. 19, 2026, excluding any entity that filed its own suit to recover them.
Details for claim C11
- C12
The government opposed class certification. The court records its arguments that the request came too late and that it was really a request for money damages, which the court rejected.
Details for claim C12
The government's arguments as summarized by the court.
- C17
As of Oct. 7, 2026, more than 4,000 nearly identical refund suits had been filed, involving around 7,000 plaintiffs.
Details for claim C17
- C18
On Nov. 10, 2026, Freestyle World asked for an order giving class members access to CAPE Phase 3 and full refunds with interest, including entries liquidated more than 80 days earlier. It also requested removal of the class definition’s date restrictions and an express tolling provision.
Details for claim C18
A request by a party, not a refund order.
Sources S8 Freestyle World, Inc. (court filing), 10 Nov 2026 S10 Fortune, 12 Nov 2026
- C19
Under the court's Nov. 9, 2026 scheduling order, the government's Answer is due Nov. 13, its response to the class motion is due Dec. 9, and by Dec. 14 the parties must propose a way to report progress.
Details for claim C19
“Defendant shall file its response to Plaintiff’s motion by December 9, 2026”
Opened by us: ECF No. 68, p. 1. S6 Sources S6 U.S. Court of International Trade, 9 Nov 2026 S10 Fortune, 12 Nov 2026
- C33
Lieberman PLLC’s analysis, reflecting the case as of Nov. 10, 2026, says the earliest two-year filing deadlines for individual refund suits fall in early February 2027 and that tolling has not been decided in this case. The class’s Nov. 10 motion argues that certification already tolled claims and requests an express tolling provision.
Details for claim C33
One law firm's reading of 28 U.S.C. 2636(i); not a court finding.
Sources S17 Lieberman PLLC (law firm analysis), 10 Nov 2026 S8 Freestyle World, Inc. (court filing), 10 Nov 2026
Replacement tariffs 0 of 8 claims
- C22
On Feb. 20, 2026, the day of the ruling, the President proclaimed a 10% import surcharge under Section 122 of the Trade Act of 1974 for 150 days, effective Feb. 24, 2026.
Details for claim C22
- C23
The proclamation says the President's advisers determined that the U.S. has large and serious balance-of-payments deficits, citing among other things a goods trade deficit of about $1.2 trillion in 2024.
Details for claim C23
The administration's stated legal basis.
Sources S11 The White House, 20 Feb 2026
- C24
On May 7, 2026, the trade court ruled 2-1 against the Section 122 surcharge. Relief covered Washington State, Burlap and Barrel, Inc., and Basic Fun, Inc.; the other state plaintiffs’ claims were dismissed for lack of standing.
Details for claim C24
- C25
The Feb. 20 proclamation set the Section 122 surcharge’s effective period from 12:01 a.m. Eastern standard time on Feb. 24, 2026 through 12:01 a.m. Eastern daylight time on July 24, 2026, unless changed earlier or extended by Congress.
Details for claim C25
The proclamation specifies the exact endpoint; no conflicting end-date claim is retained.
Sources S11 The White House, 20 Feb 2026
- C26
USTR opened 60 Section 301 investigations on March 12, 2026. On June 2 it determined that the investigated practices concerning forced-labor import prohibitions were actionable. Its July 23 notice imposed duties effective July 24, generally at 10% or 12.5%, with product exemptions and rates net of ordinary MFN duties for specified economies and products.
Details for claim C26
- C27
USTR says the action will begin to correct what it calls both a human rights abuse and a distortive trade practice.
Details for claim C27
The administration's stated reason.
Sources S14 Office of the U.S. Trade Representative, 23 Jul 2026
- C28
On Aug. 3, 2026, New York’s Attorney General announced that New York and 24 other states had sued over the Section 301 duties in the trade court. The announcement describes the states’ argument that the forced-labor rationale is a pretext for reimposing sweeping tariffs.
Details for claim C28
A party’s allegation, not a judicial finding.
- C39
The Section 122 proclamation, published at 91 FR 9339, set a 10% ad valorem surcharge; Section 122 allows up to 15%. Gibson Dunn’s May 13 alert said the President had threatened to raise the surcharge to 15% but had not done so. The Federal Register contains no later proclamation changing the rate.
Details for claim C39
Federal Register search for Section 122 presidential documents from Feb. 1 to Nov. 13, 2026 returned only Proclamation 11012.
Sources S34 Federal Register, 25 Feb 2026 S11 The White House, 20 Feb 2026 S12 Gibson Dunn (law firm client alert), 13 May 2026
Who paid 0 of 4 claims
- C29
The trade court describes importers of record as having deposited the IEEPA duties. CBP says refunds are paid to the importer of record or its designated notify party, not automatically to retail customers who bought imported goods.
Details for claim C29
- C30
In a Feb. 12, 2026 post on the New York Fed’s Liberty Street Economics blog, Mary Amiti, Chris Flanagan, Sebastian Heise and Columbia University’s David E. Weinstein estimated that nearly 90% of the 2025 tariffs’ economic burden fell on U.S. firms and consumers. Their estimated U.S. importer incidence was 94% in January–August and 86% in November 2025.
Details for claim C30
An estimate of how the cost split between foreign exporters and U.S. buyers. It does not split the U.S. share between companies and consumers.
Sources S16 Federal Reserve Bank of New York, Liberty Street Economics, 12 Feb 2026
- C31
The principal dissent noted that some importers may have already passed on costs to consumers or others.
Details for claim C31
- C36
Company filings report IEEPA tariff refunds: Walmart about $2.9 billion received in the quarter ended July 31; Target $994 million recognized in the quarter ended Aug. 1; Home Depot about $730 million received as of Aug. 2; Amazon about $640 million received in the second quarter. Nike recognized a $986 million benefit, of which it had received $302 million by May 31. Ford recorded about $1.3 billion and expected about $500 million in IEEPA reimbursements in the second half of 2026.
Details for claim C36
Amounts as stated in each company's own SEC filing; Nike's and Ford's figures include amounts not yet received.
Sources S28 Walmart Inc. (SEC filing), 28 Aug 2026 S29 Target Corp. (SEC filing), 28 Aug 2026 S30 The Home Depot, Inc. (SEC filing), 25 Aug 2026 S31 Amazon.com, Inc. (SEC filing), 31 Jul 2026 S32 NIKE, Inc. (SEC filing), 15 Jul 2026 S33 Ford Motor Co. (SEC filing), 29 Jul 2026
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Our coverage
- 2026-11-12 Class Plaintiffs Ask Trade Court to Order Tariff Refunds for All 330,000 Importers; DOJ Wants Only Plaintiffs Paid U1
- 2026-08-05 CBP Confirms $100 Billion Refunded on Trump's Struck-Down Tariffs, Just as New Ones Face a 25-State Lawsuit U2
- 2026-10-15 Trump's Third Tariff Legal Theory Faces Court Challenge as 64% of Adults Say He Has Gone Too Far U3
- 2026-09-12 Companies Got Over $100 Billion in Tariff Refunds. The Shoppers Who Paid Higher Prices Got Nothing. U4
- 2026-05-23 CAPE Portal Goes Live: $166 Billion Tariff Refund Machine Is Running - But Small Businesses Are Getting Squeezed Out U5
What is not known
- When the court will rule. The Nov. 9 scheduling order sets no reply-brief deadline, hearing date or decision date for the class motion. It does not promise a ruling after the Dec. 9 response. S6
- The Federal Circuit appeal. The Oct. 8 opinion described appeal No. 26-1895 as awaiting a decision. The documents checked here do not establish its subsequent disposition or a decision date. S4
- Exactly how much is still owed. CBP’s Nov. 5 figure of $128.4 billion is duties plus interest certified for Treasury disbursement; its March 4 estimate of $166 billion includes duties and estimated deposits. These figures cannot establish the current unpaid-duty balance by subtraction. The court estimated about $30 billion would remain if CAPE stopped on Oct. 8. S4S7
- Whether shoppers get anything. The reviewed class filings and orders do not establish how much refunded money will reach retail customers. CBP’s recipient rules alone do not establish retailers’ later pricing or payment decisions. S4S8
- The replacement duties. The May 7 Section 122 opinion and Aug. 3 state announcement establish earlier litigation events, not the current disposition of the Section 122 appeal or Section 301 challenges. Those outcomes are not established here. S21S13
- Treasury versus CBP refund totals. Treasury’s customs-refund outlays (about $115.1 billion May–August) and CBP’s certified-refund figures ($106.6 billion as of Aug. 21) measure different things: Treasury counts all customs refunds paid, CBP counts IEEPA refunds plus interest sent to Treasury. The records do not reconcile the two. S26S23
Sources (38)
- S1Supreme Court of the United States Learning Resources, Inc. v. Trump, No. 24-1287 (slip opinion)supremecourt.gov (opens in a new tab)Primary document independently retrieved; relevant passages checked directly.
- S2Penn Wharton Budget Model Supreme Court Tariff Ruling: IEEPA Revenue and Potential Refundsbudgetmodel.wharton.upenn.edu (opens in a new tab)Projection by a university budget model.
- S3U.S. Court of International Trade Order, Atmus Filtration, Inc. v. United States, No. 26-01259, ECF No. 21courthousenews.com (opens in a new tab)Primary document independently retrieved; relevant passages checked directly.
- S4U.S. Court of International Trade Slip Op. 26-123, Freestyle World, Inc. v. CBP, No. 26-01088 (class certification)cit.uscourts.gov (opens in a new tab)Primary document independently retrieved; relevant passages checked directly.
- S5U.S. Department of Justice (court filing) Defendants' Motion to Amend Order, V.O.S. Selections v. Trump, No. 25-00066, ECF No. 88assets.bwbx.io (opens in a new tab)Primary document independently retrieved; relevant passages checked directly.
- S6U.S. Court of International Trade Scheduling Order, Freestyle World, Inc. v. CBP, No. 26-01088, ECF No. 68lieffcabraser.com (opens in a new tab)Primary document independently retrieved; relevant passages checked directly.
- S7U.S. Customs and Border Protection (court filing) Declaration of Brandon Lord responding to Oct. 29, 2026 order, No. 26-01088, ECF No. 69lieffcabraser.com (opens in a new tab)Primary document independently retrieved; relevant passages checked directly.
- S8Freestyle World, Inc. (court filing) Motion for Entry of Proposed Class Relief Order, No. 26-01088, ECF No. 70lieffcabraser.com (opens in a new tab)Primary document independently retrieved; relevant passages checked directly.
Show all 38 sources
- S9U.S. Customs and Border Protection International Emergency Economic Powers Act (IEEPA) Duty Refunds (FAQ)cbp.gov (opens in a new tab)Agency FAQ; retrieved via browser-fetch fallback after initial HTTP 403. Page says Last Modified: Nov 02, 2026.
- S11
- S12Gibson Dunn (law firm client alert) Section 122 Global Tariffs Invalidated by the Court of International Trade: Ruling and Next Stepsgibsondunn.com (opens in a new tab)Dated law-firm summary; used only for its attributed account of the 15% threat, alongside the Federal Register record.
- S13New York State Attorney General Attorney General James and Governor Hochul Announce Lawsuit Against Trump Administration to Stop Latest Round of Illegal Tariffsag.ny.gov (opens in a new tab)A party to the lawsuit; its statements are arguments.
- S14Office of the U.S. Trade Representative USTR Takes Action in Forced Labor Section 301 Investigationsustr.gov (opens in a new tab)Primary.
- S15Office of the U.S. Trade Representative Federal Register notice of final action, forced labor Section 301 investigations (pre-publication)ustr.gov (opens in a new tab)Primary document independently retrieved; relevant passages checked directly.
- S16Federal Reserve Bank of New York, Liberty Street Economics Who Is Paying for the 2025 U.S. Tariffs?libertystreeteconomics.newyorkfed.org (opens in a new tab)Research blog by four economists; views are the authors'.
- S17Lieberman PLLC (law firm analysis) The IEEPA Refund Class Action Now Has a Timetableliebermanpllc.com (opens in a new tab)Attorney advertising; analysis states it reflects proceedings as of Nov. 10, 2026, not an independently verified publication date.
- S19U.S. Customs and Border Protection (court filing) Declaration of Brandon Lord, Atmus Filtration, ECF No. 31lieffcabraser.com (opens in a new tab)Primary document independently retrieved and read.
- S20U.S. Customs and Border Protection (court filing) Declaration of Brandon Lord, Freestyle World, ECF No. 58lieffcabraser.com (opens in a new tab)Primary document independently retrieved and read.
- S21U.S. Court of International Trade Slip Op. 26-47, State of Oregon and Burlap and Barrel v. United Statescit.uscourts.gov (opens in a new tab)Primary document independently retrieved and read.
- S10Fortune American importers are one step closer to receiving $166 billion in universal tariff refundsfortune.com (opens in a new tab)News report; used as a secondary account of court filings already cited from the primary record.
- S18Lieff Cabraser (class counsel) IEEPA Tariffs Class Action Litigationlieffcabraser.com (opens in a new tab)Class counsel case page; quotes the court class definition and hosts CBP declarations.
- S22U.S. Customs and Border Protection (court filing) Declaration of Brandon Lord responding to July 17, 2026 order, No. 26-01088, ECF No. 24lieffcabraser.com (opens in a new tab)Sworn declaration, read directly; figures as of July 31, 2026.
- S23U.S. Customs and Border Protection (court filing) Declaration of Brandon Lord responding to Aug. 5, 2026 order, No. 26-01088, ECF No. 38lieffcabraser.com (opens in a new tab)Sworn declaration, read directly; figures as of Aug. 21, 2026.
- S24U.S. Customs and Border Protection (court filing) Declaration of Brandon Lord responding to Aug. 27, 2026 order, No. 26-01088, ECF No. 50lieffcabraser.com (opens in a new tab)Sworn declaration, read directly; figures as of Sept. 11, 2026.
- S25U.S. Customs and Border Protection (court filing) Declaration of Brandon Lord responding to Oct. 8, 2026 order, No. 26-01088lieffcabraser.com (opens in a new tab)Sworn declaration, read directly; figures as of Oct. 23, 2026.
- S26U.S. Department of the Treasury, Bureau of the Fiscal Service Monthly Treasury Statement, Table 4 (receipts): Customs Duties, FY2026fiscaldata.treasury.gov (opens in a new tab)Official dataset read via the Fiscal Data API (mts_table_4). Refunds cover all customs duties, not only IEEPA duties.
- S28Walmart Inc. (SEC filing) Form 10-Q for the quarter ended July 31, 2026sec.gov (opens in a new tab)Company filing, read directly.
- S29Target Corp. (SEC filing) Form 10-Q for the quarter ended Aug. 1, 2026sec.gov (opens in a new tab)Company filing, read directly.
- S30The Home Depot, Inc. (SEC filing) Form 10-Q for the quarter ended Aug. 2, 2026sec.gov (opens in a new tab)Company filing, read directly.
- S31Amazon.com, Inc. (SEC filing) Form 10-Q for the quarter ended June 30, 2026sec.gov (opens in a new tab)Company filing, read directly.
- S32NIKE, Inc. (SEC filing) Form 10-K for the fiscal year ended May 31, 2026sec.gov (opens in a new tab)Company filing, read directly.
- S33Ford Motor Co. (SEC filing) Form 10-Q for the quarter ended June 30, 2026sec.gov (opens in a new tab)Company filing, read directly.
- S34Federal Register Proclamation 11012, Imposing a Temporary Import Surcharge To Address Fundamental International Payments Problems, 91 FR 9339federalregister.gov (opens in a new tab)Official published text (govinfo PDF read).
- U1Unbiased Headlines Class Counsel Asks Trade Court to Order Tariff Refunds for All 330,000 Importers; DOJ Wants Only Plaintiffs Paidunbiasedheadlines.com (opens in a new tab)Our earlier coverage; headline and date checked on the live page. Listed as coverage, not as evidence for any claim.
- U2Unbiased Headlines CBP Confirms $100 Billion Refunded on Trump's Struck-Down Tariffs, Just as New Ones Face a 25-State Lawsuitunbiasedheadlines.com (opens in a new tab)Our earlier coverage; headline and date checked on the live page. Listed as coverage, not as evidence for any claim.
- U3Unbiased Headlines Trump's Third Tariff Legal Theory Faces Court Challenge as 64% of Adults Say He Has Gone Too Farunbiasedheadlines.com (opens in a new tab)Our earlier coverage; headline and date checked on the live page. Listed as coverage, not as evidence for any claim.
- U4Unbiased Headlines Companies Got Over $100 Billion in Tariff Refunds. The Shoppers Who Paid Higher Prices Got Nothing.unbiasedheadlines.com (opens in a new tab)Our earlier coverage; headline and date checked on the live page. Listed as coverage, not as evidence for any claim.
- U5Unbiased Headlines CAPE Portal Goes Live: $166 Billion Tariff Refund Machine Is Running - But Small Businesses Are Getting Squeezed Outunbiasedheadlines.com (opens in a new tab)Our earlier coverage; headline and date checked on the live page. Listed as coverage, not as evidence for any claim.
Updates and corrections
- Independent verification: distinguished Treasury certification from payment, corrected historical scopes and dates, and checked the primary Section 122 opinion.
- Recovery pass: added CBP refund figures from the July–October declarations, Treasury customs-refund data, company filings, the Federal Register text of the Section 122 proclamation, and links to our earlier coverage.
- Final review: removed items resting on a single news report or a single law-firm account, including an estimated Apple refund figure, a report on company pricing plans and a reported appeals-court stay.
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