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Tariffs

Taxes imposed by a government on imported goods and services. They are used to influence trade or raise revenue.

International Emergency Economic Powers Act (IEEPA)

A federal law that grants the President the authority to regulate international commerce after declaring a national emergency in response to an unusual and extraordinary threat to the national security, foreign policy, or economy of the United States.

Promulgate Regulations

To formally announce or put a law, rule, or administrative order into effect. In this context, it means the Treasury Department must create and officially establish the rules for the refund program.

Covered Importer

An entity that paid $5,000,000 or more in the specified unlawful tariffs as of February 19, 2026, and whose ultimate parent entity earned at least $10,000,000 in revenue in 2025.

Essential Consumer Goods

Everyday products deemed necessary for households, including infant formula, diapers, hygiene products, certain foods, basic clothing, and children's toys under $50.

Stock Buybacks

When a company repurchases its own shares from the open market. This reduces the number of outstanding shares and can increase the value of the remaining shares.