USTR Chief: Companies Fearing Retaliation May Struggle to Receive Tariff Refunds

Jamie Greene, the chief of the Office of the U.S. Trade Representative (USTR), indicated that some companies might refrain from seeking tariff refunds due to fears of retaliatory measures, even though reciprocal tariffs have been invalidated by a federal court ruling. This suggests potential complications in the process for domestic companies to reclaim tariffs they have already paid.

U.S. President Donald Trump previously commented last month on companies not seeking tariff refunds, stating, "I will remember them if they don't." Greene suggested that companies have diverse reasons for their decisions on how to utilize refund funds, with some indicating they would not seek refunds, citing reasons such as distributing bonuses to employees, reinvesting, or generally benefiting from tariffs.

The USTR will hold public hearings from the 5th to the 8th concerning investigations under Section 301 of the Trade Act, related to structural overcapacity issues with 16 economic entities, including South Korea. South Korean government officials are scheduled to attend the first day of the hearings on the 5th to present their position.