The second that U.S. Customs and Border Protection opened its tariff refund portal at 8 a.m. ET on April 20, tens of thousands of business owners and customs brokers hurried to submit their information. For some, the site crashed; for others, their entries received an error alert. Those who did get through breathed a sigh of relief. “Everybody was anxious to press the button as quickly as they could,” said Rick Woldenberg, the CEO of the educational toy company Learning Resources Inc., who submitted a request for $10 million in refunds. “It’s like getting Taylor Swift tickets.” This week, companies could officially start requesting tariff refunds from the U.S. government. The digital refund system is called the Consolidated Administration and Processing of Entries, or CAPE. Its launch comes two months after the U.S. Supreme Court ruled that Donald Trump’s administration illegally collected tariffs under the International Emergency Economic Powers Act. The U.S. government could owe businesses and brokers up to $175 billion in refunds, including interest.Continue reading this article on modernretail.co. Sign up for Modern Retail newsletters to get the latest on the shifting dynamics between retail’s old and new guards.
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