U.S. Introduces Tariff Refunds, But Car Prices Already Went Up (opens in new tab)

On Monday, the Trump administration announced that it was taking the initial steps to refund $166 billion collected in tariffs over the last year. This comes after the Supreme Court ruled against tariffs imposed via the International Emergency Economic Powers Act (IEEPA). While the automotive industry appears to be eligible for refunds, there’s a substantial amount of confusion surrounding the finer details. The automotive sector is estimated to have increased automotive pricing by…