**Tax Refund of One Trillion U.S. Dollars Initiated: Corporates' Cash Flow Rejuvenated, Consumers May Not Benefit**

BlockBeats News, April 20th. Today, the United States will officially launch the tariff refund system, involving a maximum amount of approximately $166 billion. This refund is the result of a previous court ruling that found some tariff collections were not authorized by law. Companies can apply to reclaim the paid tariffs, with the funds expected to be received 60 to 90 days after approval.

This refund is mainly targeted at importers and their agents, with the initial phase only covering some eligible tariff orders (such as those not yet finally settled or within 80 days after reconciliation). According to U.S. Customs data, over 56,000 companies have already completed registration, involving a refund amount of approximately $127 billion.

The market generally believes that this move will significantly ease the cash flow pressure on businesses. However, since a large amount of the previous tariff costs has already been passed on to consumers through price increases, and the policy does not require companies to refund the rebate to end-users, the actual benefits still mainly focus on the business side.

It is worth noting that the issue of benefit distribution between some consumers and businesses has led to class-action lawsuits. Companies including Costco and EssilorLuxottica are facing legal challenges in an attempt to extend the refund to consumers.

In addition, logistics companies such as FedEx and UPS have stated that if they paid the tariffs on behalf of customers and receive a refund, they will return the relevant amount to the clients. Overall, this policy seems more like a "capital flow tool" on the business end in the short term, rather than a direct stimulus for consumption.