The U.S. Supreme Court has ruled illegal, and a tariff refund procedure worth approximately $166 billion (approximately 244 trillion won) will begin on the 20th (local time).
The U.S. Customs and Border Protection (CBP), which oversees U.S. tariffs, announced through its website that it is developing a unified reporting and management system (CAPE) to simplify the process of filing and processing refund requests for tariffs imposed under the International Emergency Economic Powers Act (IEEPA), and will begin Phase 1 service of CAPE starting on the 20th.
Phase 1 targets cases where tariffs have not been finalized or cases within 80 days from the finalization date. Cases where funds have already been transferred to Treasury Department accounts or post-settlement cases involving anti-dumping and countervailing duties will be handled in future phases.
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Will the refunds happen....?
