As of Monday morning, businesses that paid these levies can start applying for the refunds, which will provide a cash boost for firms that chose to absorb the cost of the duties rather than pass them onto consumers. Meanwhile, the refunds have already given rise to a new financial product, with businesses that need immediate cash injections selling their rights to tariff refunds to hedge funds – at a discounted price.
Hard Numbers
Hard Number: Trump’s tariff refunds on their way
Eileen Zhang
By Zac WeiszApril 20, 2026
Zac Weisz
Zac reports on global affairs, covering everything from battles between judicial branches and political leaders, to conflicts in Africa, Europe, and the Middle East. With the Trump administration keen to alter the world order, though, there’s a heavy emphasis right now on US politics – an area with which he is intimately familiar. Prior to joining GZERO, Zac was a senior national politics correspondent at National Journal, where he covered the 2024 presidential election from its inception to the dramatic finish, as well as major congressional actions during the Biden administration. Prior to journalism, Zac worked as an economic analyst for Oxford Economics, calculating the impact of various tax policies, and of Britain’s exit from the European Union. Born in London, he currently resides in New York City, where you can find him playing football (the original version) or watching it on television while attempting to cook up a storm.
