Businesses claw back $110b in Trump's unlawful tariffs

Companies worldwide are successfully recovering tens of billions of dollars paid in tariffs after Donald Trump's "liberation day" duties were declared unlawful. Australian brand Nashie, for instance, received a six-figure refund, including interest, on money it claims was illegally taken. "I've got my very own Trump account," remarked Nashie's co-founder Tom Wilson, expressing disbelief at the payout.

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I've got my very own Trump account

Analysis by Oxford Economics reveals that the U.S. has refunded approximately $US80 billion ($115 billion) in tariffs since May, with an additional 7 percent interest. This figure is expected to be matched in refunds over the next year. The Department of Homeland Security has described this as the largest refund issuance in its history. These tariffs, imposed in April 2025, caused significant disruption to global markets and importers, with Australian exporters facing a flat 10 percent tax, and often higher rates due to goods manufactured in China.

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I can't believe my eyes

The legal challenge was spearheaded by the Liberty Justice Centre, a conservative non-profit law firm. Its chief executive, Sara Albrecht, despite having previously voted for Trump, believed his tariffs were unlawful. The firm faced challenges in finding plaintiffs due to Trump's reputation for taking criticism personally and the potential for retaliation. However, after a series of rulings and appeals, the Supreme Court ultimately decided 6-3 that the president exceeded his authority under the International Emergency Economic Powers Act. This landmark decision has turned Trump's signature trade policy into a financial liability, necessitating the widespread refund of collected duties.

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This is the largest refund issuance that's ever been paid off by the Department of Homeland Security