The U.S. government formally appeals against the ruling on refund of tariffs

June 3, the U.S. government formally appealed on June 2 against the ruling of the U.S. Court of International Trade ordering the U.S. Customs and Border Protection to refund tariffs. The outcome of the appeal concerns the approximately US$166 billion in tariff revenue levied by the Trump administration on U.S. importers, and the tariff refund process that has been initiated may be affected. According to the Supreme Court's ruling, a judge of the U.S. Court of International Trade ruled on March 4 that Customs and Border Protection could not conduct tariff clearing in accordance with the provisions of the U.S. International Emergency Economic Powers Act. This means that tariffs previously charged to importers under the law will need to be refunded. According to the Customs and Border Protection Bureau, as of March 4, more than 330,000 importers had prepaid or paid relevant customs duties totaling approximately US$166 billion. A legal document recently submitted by the bureau shows that as of May 22, the bureau has accepted customs refund applications totaling approximately US$85 billion and has requested the Ministry of Finance to refund approximately US$20.6 billion in taxes. (CCTV News)