Victor Schwartz, the CEO of VOS Selections, a wine importer, has received a $110,000 tariff refund from the U.S. government, following a Supreme Court ruling that invalidated President Donald Trump‘s International Emergency Economic Powers Act (IEEPA) tariffs.
The Treasury Department has begun refunding importers who were impacted by the tariffs. Schwartz was among the small business leaders who contested the tariffs in the Supreme Court and emerged victorious, reported The Hill on Wednesday. A spokesperson for Schwartz’s legal team told the publication that the refund had been received, indicating that the refunds were “absolutely starting to flow.”
The Customs and Border Protection (CBP) had previously stated that refunds would begin this week for successful applicants. On Tuesday, the agency told a federal judge that the first batch of refunds had been approved and sent to the Treasury Department for payment.
The CBP is now processing $35.46 billion in refunds, though the total is expected …
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