After Supreme Court blow, Trump admin launches $166B tariff refund portal

"It's essentially a fast track for processing refunds," said Reed Smith partner Michael Lowell, adding that importers will need to file claims, but the process should be straightforward.

"Customs is estimating that refunds will be processed within 60 to 90 days after submission," he added. "If importers file as soon as the system opens, refunds could begin flowing by mid-June to mid-July."

The rollout marks the first phase of the refund effort, meaning not all importers or tariff categories will be eligible right away.

Many businesses are expected to rush to file claims to get back billions they paid under the now-invalid tariffs.

Tariff revenues hit record highs after "Liberation Day" duties, underscoring the scale of payments now being returned to importers.

Tariffs function as a tax on imports, with U.S. companies often absorbing the upfront costs and passing them along through higher prices for wholesalers, retailers and ultimately consumers. As a result, households and businesses can face increased costs on goods ranging from electronics to raw materials.

"Tariffs are not going anywhere. That's clear. It's a central component of the administration's economic and trade policy," said Reed Smith partner Michael Lowell.

Lowell pointed to the administration's swift move to impose new tariffs under a separate legal authority known as Section 122 following the Supreme Court's ruling, noting those measures are already facing legal challenges.

"The administration has tools available to it that it is actively using to impose tariffs on certain imports from certain countries," Lowell said. "Tariffs are here to stay, at least for the balance of the Trump administration."

He added that tariffs imposed during Trump's first term largely remained in place through the Biden administration, underscoring their staying power across administrations.

Lowell also said companies should take steps now to prepare for continued uncertainty.

"We are advising companies to deal with the issues up front in their contracts, have very explicit terms around who's responsible for the tariff, how refunds will be processed if we continue to see tariffs that are invalidated and refunds associated with them," he said.