US families pay $700 for struck-down tariffs

American households are still paying $700 each in tariff-related costs this year, even as the Trump administration prepares to distribute $85bn in refunds to major corporations, according to the Tax Foundation.

The refund programme, announced this week by US Customs and Border Protection, will see $20bn returned to importers immediately with another $65bn on the way. The payments follow February’s Supreme Court ruling that Donald Trump had exceeded his authority when imposing sweeping tariffs including a baseline 10% on all imports.

But for ordinary Americans, the financial pain continues. The non-partisan Tax Foundation calculated that tariffs added an average $1,000 to household costs in 2025, with $700 additional costs projected for this year. Seven out of 10 Americans reported higher prices in a March Harris/Guardian poll, with a majority saying tariffs were not the right solution for the economy.

Walmart, the nation’s largest retailer, said last week it would likely use any tariff refunds to lower prices for customers who have faced increased financial distress. The company had previously warned it would need to raise prices after Trump’s tariffs were implemented.

Jim Beam, the Kentucky bourbon maker, announced it would close its distillery for a year to navigate the volatility. Whisky distilleries across the state were among the hardest hit by retaliatory tariffs on American spirits.

Asked about the refunds this week, Trump said he would “remember” which companies requested them, a remark industry groups said amounted to intimidation against businesses seeking money they are legally owed.

The refunds will return $133bn in tariffs collected under the struck-down policy. FedEx immediately sued the US government for its refund after the Supreme Court ruling, while other companies filed through a CBP portal.

Trump has since introduced a new 10% tariff under a different statute, though a US trade court ruled against that measure earlier this month.