Policy Update: Tariff Increase and IEEPA Refund Developments

Potential Increase in Global Tariffs

According to Treasury Secretary Scott Bessent, the Administration is preparing to implement an increase in global tariffs to 15%, with the change expected to take effect sometime this week.

At this time, the exact implementation date has not yet been officially published. Once the policy is formally documented and released, additional details — including the confirmed start date — will be communicated.

IEEPA Refund Updates

Following the Supreme Court decision on February 20, the federal district court requested that the Department of Justice (DOJ) provide a report by February 27 outlining the Administration’s procedure for issuing potential refunds related to IEEPA-related tariffs.

However, the Administration has requested that the court allow 90 days to review the situation and determine possible options before presenting a formal response.

What Happens Next?

The process for determining whether refunds will occur is now moving through the court system. Multiple courts are involved, and both the Administration and the judicial system must complete several procedural steps before any final decisions are made.

As a result, the timeline for potential refunds remains uncertain and may take some time to resolve.

Staying Informed

These developments continue to evolve. As additional information becomes available — including official guidance, implementation dates, or court decisions — updates will be shared with the community.