Tariff Refund Delays Could Cost Taxpayers $700 Million a Month
Mar 3rd 2026
A recent filing shows the government sought to slow court-ordered refunds for invalidated IEEPA tariffs, and analysts say each month of delay could tack on about $700 million in interest owed to importers.
- The Supreme Court invalidated tariffs imposed under IEEPA, making the government liable to refund about $175 billion in collected duties.
- The Justice Department asked the Court of Appeals for the Federal Circuit to pause remand of refund cases to the Court of International Trade for at least 90 days instead of immediately sending them back.
- Using the federal interest rule and a 4.5 percent annual rate, delays add roughly $700 million in interest per month or about $23 million per day.
- A 120 plus day delay would add almost $3 billion in interest, and dragging refunds until the end of the presidential term could add roughly $25 billion.
- Update: the Federal Circuit rejected the administration’s request for a delay.