The refunds relate to additional ad valorem duties imposed under the International Emergency Economic Powers Act (IEEPA), which the Supreme Court invalidated in February this year. The amount processed represents more than half of the approximately USD 166 billion collected in tariffs affected by the ruling of the apex court. He added that refunds, including duties and interest, amounting to approximately USD 100 billion had been completed through the CAPE Refund component, certified by CBP and sent to the US Department of Treasury for disbursement. The Supreme Court, in its verdict, held that the IEEPA does not grant the President the authority to levy tariffs. US Supreme Court Justice Brett Kavanaugh, in his dissenting opinion, said that the immediate consequences of the ruling could be substantial, including potential multi-billion-dollar refunds.