US finalizes $35.5 billion in refunds for illegal Trump tariffs

The US Customs and Border Protection has processed $35.46 billion in refunds, including interest, for tariffs imposed by President Donald Trump that were ruled illegal. As of May 11, the agency had received 126,237 applications for reimbursements covering an undisclosed number of shipments. Of these, 86,874 applications covering 15.1 million entries were validated as eligible. Refunds for 8.3 million shipments have been finalized, totaling $35.46 billion, according to a court filing by CBP official Brandon Lord. The refunds are expected to boost profits for major importers such as carmakers and Under Armour.