Tariff Update: Section 122 Developments and IEEPA Refund Status
- Mar 9
- 2 min read
Recent updates from federal agencies and trade officials have brought new attention to two key areas affecting importers: potential changes to Section 122 tariffs and the status of IEEPA tariff refunds. While some developments remain pending, importers should stay informed and ensure they are prepared for possible administrative actions in the coming weeks.
Section 122 Tariffs: Proposed Increase Not Yet Published
Earlier this week, Secretary Bessent indicated that Section 122 tariffs could increase from 10% to 15%. The adjustment was expected to take effect this week.
However, as of now, no official publication or confirmation of the increase has been released. Until formal notice appears through the appropriate federal channels, the current rate remains unchanged.
IEEPA Tariff Refunds: Processing Timeline Still Pending
Another important issue for importers involves the refund process related to IEEPA tariffs. At this time, no final ruling or official procedure has been issued by the Court of International Trade regarding the refund process.
Despite the lack of a finalized framework, there has been a significant development.
According to information provided today:
U.S. Customs and Border Protection (CBP) informed the Court of International Trade that it is not currently prepared to process IEEPA refunds.
CBP indicated that it could be ready to begin processing refunds within approximately 45 days.
The agency also stated that while issuing refunds will require significant time and administrative effort, they are confident the refunds could be implemented through the Automated Commercial Environment (ACE) system.
Importance of the ACE Payment Portal
For importers, one critical requirement is already in place.
All Importers of Record are required to have an ACE payment portal established with CBP. This portal is used for:
Making payments to CBP
Managing account information
Potentially receiving tariff refunds
The deadline for setting up the ACE payment portal was early February, and all importers should ensure their accounts are properly configured and active.
What Importers Should Do Now
While details regarding the refund process are still evolving, importers should:
Verify that their ACE payment portal is active and functioning
Looking Ahead
Both the Section 122 tariff adjustment and the IEEPA refund process remain in a state of transition. Until official rulings and procedures are published, importers should remain prepared and informed.
As more information becomes available, updates will help clarify timelines, procedures, and the administrative steps necessary to process potential refunds.
We will continue monitoring these developments and will share additional details as soon as they are released.
