_WHAT’S HAPPENING_
The Trump administration on Monday launched an online portal allowing businesses to file claims for tariff refunds following the Supreme Court's February ruling that struck down duties imposed under the International Emergency Economic Powers Act (IEEPA).
Customs and Border Protection unveiled the Consolidated Administration and Processing of Entries (CAPE) system to handle what could amount to $166 billion in refunds owed to more than 330,000 importers, with interest. This marks a major setback for the Trump administration’s economic agenda, though it may bring some relief given concerns that its tariffs drove up inflation.
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