India, April 20 -- In a significant policy shift with extensive financial consequences, the administration of Donald Trump has initiated a new system aimed at refunding approximately $166 billion in tariffs to US importers. This follows a pivotal ruling by the Supreme Court of the US, which deemed the levies unlawful earlier this year.

The refund mechanism, known as the Consolidated Administration and Processing of Entries (CAPE), has been implemented by US Customs and Border Protection to streamline what would otherwise be an exceedingly complicated process. Rather than processing refunds on an entry-by-entry basis, CAPE allows for consolidated electronic payments, which could expedite reimbursements for businesses that had incurred tar...