Context:

In 2025, the U.S. collected over $200 billion in tariffs from new duties imposed by President Trump, as reported by Customs and Border Protection. This figure excludes tariffs from his first term, which are not legally contested. The Supreme Court is currently reviewing challenges to these new tariffs, which Trump enacted without congressional approval, including specific tariffs targeting fentanyl imports. A decrease in tariff collections was noted in November, coinciding with slower freight shipments and some duty reductions. If the court rules against the tariffs, companies may seek refunds for duties already paid.

Dive Deeper:

• The $200 billion in tariff collections comes from over 40 executive orders issued by Trump since January 20, 2025, specifically targeting imports from various countries.

• November marked the first decline in tariff collections since the tariffs were introduced, with $30.75 billion collected compared to $31.15 billion in October.

• The Supreme Court's decision could grant refunds to companies that paid the contested tariffs if deemed illegal, following a Federal Circuit ruling emphasizing that tariff imposition is a congressional power.

• Costco, along with other companies, has started legal action against the Trump administration to claim refunds for the tariffs paid in 2025 and to halt ongoing collections during the court proceedings.

• CBP Commissioner Rodney Scott emphasized the agency's commitment to enforcing trade laws to protect the U.S. economy and industries amid the tariff discussions.