Denver. The U.S. government opened an online portal to accept refund requests for more than $160 billion in tariffs collected last year, allowing businesses to declare amounts paid and seek repayment. Local small businesses say the portal addresses a major uncertainty, but they face questions about timing, whether and how refunds will reach them, and who will file claims when they were not the importer of record. Denver retailer Aktiv, run by Nate Axvig and his wife, imports Scandinavian clothing and said tariffs spiked about 30 percent after the Trump administration's actions, adding roughly $25,000 in extra costs that were passed on to customers. Axvig said he paid tariffs through major shippers such as DHL, FedEx and UPS, which must apply for refunds and are developing their own portals; shippers have told him the process could take 60 to 90 days, and he urged shoppers to support local businesses while they wait.
Prepared by Christopher Adams and reviewed by editorial team.
If you've noticed higher prices at your local stores, this could be why. The tariff refunds could mean a price drop, especially for goods from small businesses like Aktiv. But it may take a few months. Keep supporting local businesses in the meantime.
This refund portal is a big deal for businesses hit by tariffs. Yet, there's uncertainty about when and how refunds will reach them. If you're a customer, expect some price fluctuations. Worth forwarding if you know a small business owner.
Importers and U.S. businesses that paid the now-invalid tariffs will benefit from potential refunds of roughly $166 billion, improving liquidity and offsetting prior increased import costs.
The U.S. Treasury faces sizable repayments and administrative burdens, while businesses that relied on higher tariff protections may lose price advantages and face market adjustments.
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U.S. Launches Portal for Supreme Court Tariff Refunds
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