Trump tariffs are invalid.. Will Indians get a refund?

There is confusion over refunds in the wake of the US Supreme Court ruling that Donald Trump's retaliatory tariffs on countries around the world, including India, are invalid. It is estimated that the US treasury has received about $133 billion (about Rs. 12 lakh crore) from these tariffs, which came into effect on April 2 last year, until mid-December. However, the Supreme Court has not clarified whether this amount should be refunded or not. Several companies like Costco, Revlon, and Bumble Bee Foods have already approached the courts for refunds.

Indian exporters, however, are unlikely to get a direct refund. Because these tariffs were paid by importers in the US. If the refunds are granted, they will go to the respective companies. Market experts say that there will be no direct compensation for Indian companies. However, with this ruling, it is expected that demand for Indian products in the US market may increase again.

The refund process also does not seem to be completed immediately. The US Customs and Border Protection agency will have to review the applications and make payments. According to experts, this process is likely to take 12-18 months. Although refunds have been paid in trade cases in the past, this may be the first time that such a large amount of refunds has been given.