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Trump pans tariffs ruling

Supreme Court tariffs takeaways

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EPA relaxes mercury standards for coal plants Energy & Environment Newsletter | 2 minutes ago

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Cantwell asks Bessent for ‘detailed explanation’ of tariff refund process Business | 1 hour ago

Cantwell asks Bessent for ‘detailed explanation’ of tariff refund process

Sen. Maria Cantwell (D-Wash.) penned a letter to Treasury Secretary Scott Bessent asking for a “detailed explanation” of how the Department of the Treasury will dole out tariff refunds in the wake of a Supreme Court ruling Friday that said the president was working outside of his authority in imposing some tariffs. 

“Given this Administration has illegally collected hundreds of billions of dollars from American businesses, that now must be refunded, I am requesting detailed information about how the Administration plans to fairly and expeditiously reimburse the payors of those tariffs,” Cantwell wrote in her letter. 

Cantwell, the ranking member of the Senate Commerce, Science and Transportation Committee, criticized President Trump’s administration for not having prepared for the Supreme Court’s decision, which determined Trump could not use the International Emergency Economic Powers Act (IEEPA) to impose tariffs on other countries.  

While the Supreme Court ruled Trump’s IEEPA tariffs unlawful, the president has already announced several other avenues he plans to use to continue his tariff regime, including an immediate 10 percent global tariff he plans to impose through Section 122 of the Trade Act of 1974. 

In her letter, Cantwell argued that the financial strain caused by Trump’s tariffs has pushed some American businesses to the point of bankruptcy and demanded that the Treasury Department implement “an expeditious and transparent process to remediate the financial harm that resulted from these illegal tariffs.”

The Monthly Treasury Statement, which summarizes the financial activities of the government, includes a section called “customs duties” that includes revenue collected by the government from tariffs imposed on imported goods.

Cantwell requested that the department provide more specific data regarding the revenue collected from IEEPA tariffs including “which firms, particularly small businesses, are shouldering the frontline cash burden of these tariff taxes.” 

She asked the department to prioritize issuing refunds to small and medium sized businesses without the resources to wait for reimbursement and requested removing any additional barriers for companies to access refunds.

“All businesses must have substantial clarity that the Administration will move forward with a timely, transparent, and equitable process for refunding money to which the government is not legally entitled,” Cantwell wrote. 

She concluded her letter by asking for a response from Bessent by March 6.

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