Hello and welcome to the US politics live blog.
The Trump administration is expected to launch a refund system for businesses that paid tariffs later struck down by the supreme court. It is the first step in paying back $166bn in tariffs after justices ruled the Trump administration was overstepping its constitutional powers.
Importers and their brokers will be able to begin claiming refunds through an online portal beginning at 8am ET, according to US Customs and Border Protection, the agency administering the system.
It’s the first step in a complicated process that also might eventually lead to refunds for consumers who were billed for some or all of the tariffs on products shipped to them from outside the United States, the Associated Press reports.
Companies must list the goods on which tariffs were levied. If CBP approves a claim, it will take 60-90 days for a refund to be issued, the agency said. CBP said in court filings that over 330,000 importers paid a total of about $166bn on more than 53m shipments.
More than 3,000 businesses, including FedEx and Costco, have sued the Trump administration to get refunds, the New York Times reports. FedEx has suggested customers could be in line for refunds for overpaid tariffs while Costco has said it may pass on refunds in lower prices for consumers.
Lauren Almeida
Oil prices have risen sharply and European stock markets have fallen after the US seizure of an Iranian vessel dented hopes for a peace deal.
Brent crudethe international benchmark for oil prices, rose by 4.8% on Monday to $94.69 a barrel.
The price changes followed Donald Trump’s announcement on Sunday that an Iranian cargo ship had been seized after trying to get past the US-enforced blockade near the strait of Hormuz shipping channel.
Donald Trump is in Washington today. He’ll spend most of the day in meetings, and at 3pm ET he’ll sign executive orders. None of these are open to the press, but we’ll let you know if anything changes and we hear from the president.
Edward Helmore
After the supreme court struck down Trump’s tariffs in February, US businesses called for a swift process to pay refunds to US importers.
The US National Retail Federation, which represents a number of US retailers, from Walmart to small brands and manufacturers, called for “a seamless process to refund the tariffs to US importers” at the time.
“The refunds will serve as an economic boost and allow companies to reinvest in their operations, their employees and their customers,” it said.
The US Chamber of Commerce, too, called for swift return of tariffs covered by the ruling. Its chief policy officer, Neil Bradleysaid: “Swift refunds of the impermissible tariffs will be meaningful for the more than 200,000 small business importers in this country and will help support stronger economic growth this year.”
“We encourage the administration to use this opportunity to reset overall tariff policy in a manner that will lead to greater economic growth, larger wage gains for workers and lower costs for families,” he added.
And Anthonydirector of the business coalition We Pay the Tariffs, noted that the impact of the tariffs has been particularly hard on small businesses, which have taken out loans, delayed hiring and canceled expansion plans to accommodate import tariffs.
Refunds, he predicted, would allow businesses to reverse those trends.
The body published a national sign-on letter that said it was “imperative that that money is then given back without some of these onerous processes”.
“Full, fast automatic refunds is really where our focus is going to be,” it added.
“They’ve taken out loans just to keep their doors open. They’ve frozen hiring, canceled expansion plans, and watched their life savings drain away to pay tariff bills that weren’t in any budget or business plan,” the statement said. “But a legal victory is meaningless without actual relief for the businesses that paid these tariffs.”
Donald Trump said US negotiators will be in Pakistan on Monday, and he again threatened to destroy its power plants and bridges if no deal is reached.
Trump did not say who would lead the delegation, but a White House official said it was vice-president JD Vance.
Talks are in doubt after Iran said it had no plans for any new negotiations, saying Washington had violated a ceasefire agreement from its implementation.
A spokesperson also said Tehran can’t forget US attacks on Iran during previous diplomatic talks as he insisted that Iran will continue defending its national interests.
As a reminder, the US-Israeli war on Iran, which began on 28 February, and the 12-day war last year both were launched when Iran and the US were in talks over Iran’s nuclear programme.
You can follow the latest developments in the war with Iran in our live blog:
Hello and welcome to the US politics live blog.
The Trump administration is expected to launch a refund system for businesses that paid tariffs later struck down by the supreme court. It is the first step in paying back $166bn in tariffs after justices ruled the Trump administration was overstepping its constitutional powers.
Importers and their brokers will be able to begin claiming refunds through an online portal beginning at 8am ET, according to US Customs and Border Protection, the agency administering the system.
It’s the first step in a complicated process that also might eventually lead to refunds for consumers who were billed for some or all of the tariffs on products shipped to them from outside the United States, the Associated Press reports.
Companies must list the goods on which tariffs were levied. If CBP approves a claim, it will take 60-90 days for a refund to be issued, the agency said. CBP said in court filings that over 330,000 importers paid a total of about $166bn on more than 53m shipments.
More than 3,000 businesses, including FedEx and Costco, have sued the Trump administration to get refunds, the New York Times reports. FedEx has suggested customers could be in line for refunds for overpaid tariffs while Costco has said it may pass on refunds in lower prices for consumers.
