US begins $166B tariff refunds after court ruling

The Trump administration has begun the process of returning approximately $166 billion collected through tariffs after the Supreme Court ruled the policy unlawful. More than 3,000 companies have already filed lawsuits to expedite the receipt of their funds, but the refund process is expected to take 60 to 90 days. In addition to the principal amount, the US government is also obligated to pay interest of about $22 million per day.