The feds are gearing up to pay out refunds to businesses affected by the Trump administration’s reciprocal tariffs, but Apple won’t see one dime of the $3.2 billion it has already paid likely until July 2026.
Trump launching his tariffs in April 2205
Trump launching his tariffs in April 2205
On Monday, U.S. Customs and Border Protection (CBP) announced that it has begun developing a refund program to pay back some of the import duties imposed under the International Emergency Economic Powers Act (IEEPA). The program is known as Consolidated Administration and Processing of Entries (CAPE).
CAPE is voluntary, and Importers of Record (IORs) and Customs brokers will need to apply via the ACE portal to get the refunds. The process seems quite involved.