Business Brief (Aug. 10): Chinese Firms See Millions in U.S. Tariff Refunds

Several listed Chinese companies have announced receiving U.S. tariff refunds since July, with tariff and interest refunds equivalent to between 10 million yuan ($1.5 million) and 100 million yuan.

U.S. customs data showed on Aug. 4 that about $100 billion of the $165 billion in tariffs collected under the International Emergency Economic Powers Act had been refunded, accounting for about 60%.