NEW DELHI (SHABD): The U.S. Government has refunded $81 billion in tariffs after the Supreme Court struck down key import duties imposed under President Donald Trump, according to new budget figures.
The ruling forced Washington to return billions collected from businesses, compared with just $5 billion in refunds during the same period last year.
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President Trump had promoted the tariffs as a way to boost manufacturing, secure better trade deals and reduce the budget deficit. Instead, the federal deficit has widened to $1.367 trillion in the first 9 months of the fiscal year.
The government has also spent more than $1 trillion on interest payments for its debt, while military spending rose 5% amid the West Asia conflict. The latest figures underscore growing fiscal pressure despite the administration’s tariff-driven economic strategy.
