What happened: Businesses can now apply online for refunds on tariffs imposed during the Trump administration, with total repayments expected to reach $160 billion.
Why it matters:
- Businesses affected by past tariffs can recover significant costs.
- Consumers may not see direct price reductions despite refunds.
MNN Take: The refund process aims to compensate companies for tariffs paid, but the impact on consumer prices remains uncertain as savings may not be passed on.
Sources: BBC World