By Megan Cerullo — Updated May 14, 2026
Businesses around the United States began receiving federal refunds this week for tariffs President Trump imposed under the International Emergency Economic Powers Act (IEEPA) in 2025 and that the Supreme Court later found unlawful.
Small-business owner Sarah Wells, who makes accessories and apparel for breastfeeding mothers, said roughly half of the refund she’s owed was deposited into her bank account Tuesday. Wells filed claims in April for two separate IEEPA tariffs — one on a shipment from China and another on goods imported from Cambodia. The first refund she received was about $10,000, covering the 20% tariff plus interest; she expects another roughly $10,000 payment for the second shipment.
Wells said she had been checking the refund portal obsessively and described the relief of seeing the deposit early Tuesday morning. She also warned that businesses must still plan around ongoing trade uncertainty: imports remain subject to a 10% tariff the administration imposed under Section 122 of the Trade Act of 1974, and the White House has opened investigations under Section 301 that could trigger additional levies.
As of Monday morning, U.S. officials reported approving nearly 87,000 refund requests that cover more than 15 million IEEPA duty entries. More than half of those entries have been finalized, representing roughly $35.5 billion in refunds, including interest, according to U.S. Customs and Border Protection official Brandon Lord in a filing with the U.S. Court of International Trade in New York. Overall, the administration is estimated to owe importers about $166 billion in IEEPA refunds.
Supply-chain CEO Ryan Petersen of Flexport said his company’s clients had received about $137 million in refunds as of Monday. Petersen praised the speed of the government’s technology rollout for processing claims, calling it faster than he expected for a government project. However, other business owners have reported problems with the refund portal and the claims process.
Many importers are relieved to begin seeing money return to their accounts, but uncertainty remains. Companies will still face a 10% Section 122 tariff on new imports and the possibility of additional duties if Section 301 investigations lead to retaliatory measures. For small businesses juggling tight margins and future orders, officials say the refunds will help, but firms must continue to plan for shifting trade policy and unexpected costs.