Among the many uncertainties clouding the U.S. economic picture are tariffs, both the prospect of new ones and upcoming refunds from recent tariffs deemed illegal.

And there are a number of questions for businesses and consumers alike.

Our Stephanie Sy has more.

In February, the Supreme Court struck down the sweeping tariffs imposed by President Trump

under the International Emergency Economic Powers Act.

Now, businesses are scrambling to get their money back.

Last week, U.S. Customs and Border Protection started accepting refund claims for $166 billion

in tariffs collected over the past year, including

from companies such as Basic Fund, which sells toys familiar to many of us, Tonka Trucks, Care Bears,

and Light Bright. The CEO, Jay, Foreman, joins me now. Jay, great to have you back on the news

hour. So how much money are you

owed and tell us what the process has been like to claim the refund? Sure. Well, if all goes well,

we've got $7.4 million coming back to us, which we'll use to reinvest in our business and our

employees. So far, I have to say, the process has been smooth.

The CBP set up the portal.

The portal operated pretty well.

You know, a couple glitches here and there last Monday when we were able to start

loading everything in, but we've got all our invoices and claims loaded.

And all we're doing is waiting for the magic day when they push the button and actually

the money starts to flow back in the form of refunds.

That's, you know, at this point, that's what we're waiting for.

Everything else is locked and loaded.

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