This statement appears to be **incorrect and based on misinformation.**
Here’s why:
1. **”Liberation Day” Tariffs:** There is no known U.S. trade policy or set of tariffs officially or commonly referred to as “‘Liberation Day’ tariffs.” This term does not exist in the context of U.S. customs or trade law.
2. **$100 Billion Payback:** The Trump administration did impose significant tariffs, particularly Section 301 tariffs on goods from China and Section 232 tariffs on steel and aluminum imports. While businesses could apply for specific exclusions from these tariffs (which, if granted, could lead to refunds for past duties paid on those specific items), there was no broad, government-led initiative to “pay back” $100 billion, or 60% of all collected tariff revenue, to businesses.
3. **Tariff Revenue:** Tariffs collected by the U.S. Customs and Border Protection (CBP) go into the U.S. Treasury as government revenue. While some companies did receive refunds for duties paid on products that were later granted exclusions, or through standard customs procedures like duty drawback, this was not a blanket “payback” program of this magnitude. The total value of all tariffs collected under the Trump administration (from all sources) was in the tens of billions annually, not typically exceeding $100 billion annually just for the specific policies.
It’s possible this information is a misunderstanding, a misinterpretation of a much smaller and more specific refund program, or entirely fabricated. There is no credible source or economic data to support the claim of the Trump administration paying back $100 billion in “Liberation Day” tariffs to businesses.
