EU has Last Laugh on Trump "Liberation Day Tariffs..." Ha, Ha

Liberation Day'? What a joke...

EU exports to the US (total sales value) reached $632 billion in 2024, the baseline for tariff-impacted trade...

Tariff Collections vs. Refunds

US collected approximately $133.5 billion in IEEPA tariffs on these imports through late 2025 (roughly 15% rate on ~$632 billion dollars equivalent value, adjusted for €/$ rates), with totals potentially hitting $175 billion including early 2026 and interest.

Refund Percentage

Refunds are proceeding at 100% of collected amounts due to court rulings invalidating the tariffs, meaning the full $133.5-175 billion pool is being returned to US importers of EU goods. This equates to effectively 0% net retention by the US, or a 100% reversal on tariff revenue from EU sales.

Steel/aluminum tariffs (separate Section 232 duties) are not refunded.

---------------

Sure, Trump has reverted to a new tariff under a different law, but that has only just come into effect. Everyone before has been declared null and void, so America is refunding all tariffs that were declared illegal.

Also, the new tariffs have a good chance of being struck down again - which would be another refund.

The EU is also considering a counter sanctions package against Trump's newest set of tariffs.

It was an extraordinary decision by the Supreme Court, which could only happen in America. But not so fast:

Tariff refunds for the recently voided

"Liberation Day" tariffs are not currently being issued, as the process is expected to be a long, litigated, and complex battle for over $130 billion in collected duties. While the Supreme Court declared them illegal in February 2026, refunds will likely take 12 to 18 months or up to five years, going only to importers of record—not consumers.

CNN +3

Key details regarding the refund situation as of March 2026:

1. Who gets the money: Refunds go to the companies that paid the tariffs, such as retailers and manufacturers (e.g., Walmart, Costco), not directly to consumers who paid higher prices, though some companies may pass savings on.
2. Status of payments: No refunds are actively being issued yet. Importers must file lawsuits or administrative claims, with the Court of International Trade now handling the next phase.
3. Administration stance: The Treasury Department has indicated that refunds are not immediately guaranteed and that the process will be legally complex.
4. Ongoing legal battles: While over 900 companies have already sued for refunds, the Trump administration has indicated that the process could take up to five years and that new, different tariffs are still in place.
5. CNN +8

In summary, while the legal framework for refunds exists following the Supreme Court ruling, it is not a automatic process, and actual money returning to businesses is expected to be slow and heavily litigated, with almost no chance of direct refunds to consumers.

At first I thought that it would only be US companies that could claim tariffs, so other countries would not be eligible.

However, the EU have operations based in America as registered companies, - so they get most of their tariffs back. It may take a while, but it is looking like a certainty. If the Supreme Court has ruled they were illegal, it is a done deal.

It was an extraordinary decision by the Supreme Court, which could only happen in America.

It is very funny, liberals invert so many things. The extraordinary event that is happening and keeps happening is the total dismissal of their own rules by the US. Even a horrific government like the Iranian government respects more the rules they set for themselves or the international rules than the US.

The Trump administration could have enacted the tariff policies by their own rules, there was no impossibility on the legal sides (of course, there was an impossibility elsewhere) This stuff could have gone through Congress as it is supposed to do. And what is even more extraordinary is that the Trump administration took the same road of dismissing the US rules again to pass a new tariff package, which is another step downwards as now all countries are reported as screwing the US equally. Lesotho is no longer the champion of the countries that screw the US.

The Supreme Court had to decide the way they did or it would have grown very difficult even for liberals to keep the illusion up.