The U.S. Treasury has begun issuing refunds totaling $22 billion to importers, stemming from tariffs imposed during the Trump administration. This action effectively reverses a significant portion of the former president’s trade policies. Simultaneously, the Treasury has also waived nearly all customs revenue collected in May, a move impacting government income. The refunds are a result of rulings by the Court of International Trade which found the tariffs unlawful. These rulings pertain to tariffs levied on a range of Chinese goods. The waivers of May revenue are intended to streamline the refund process and alleviate administrative burdens. This represents a substantial financial shift and a clear departure from previous trade strategies.