[U.S. to Process Tariff Refunds Starting May 12] According to a report by Golden Finance, on May 5, the U.S. Customs and Border Protection (CBP) announced that the first batch of electronic tariff refunds, deemed illegal by the Supreme Court ruling, will begin distribution as early as May 12. The total amount of tariffs to be refunded reaches a staggering $166 billion. It is reported that the refund timeline announced by CBP is one day later than previously estimated, but no explanation was provided for the one-day delay. The impact of the Supreme Court's ruling extends far beyond the refund mechanism itself. The International Emergency Economic Powers Act (IEEPA), which had been a cornerstone of Trump's trade policy, was judicially invalidated, signifying that the administration lost one of its most flexible tools for imposing tariff pressure without congressional approval. The $166 billion figure represents the cumulative amount of tariffs potentially subject to challenge, making this refund one of the largest mandatory fiscal reversals in recent U.S. trade history. (Dongxin News Agency)