
The main people who will get the money are the import brokers who have been leveraging their businesses against the tariffs with the expectation that the money will eventually be refunded.
Americans have been protected against the largest impacts from the tariffs over the past 7 months by these loans. Things would have been MUCH worse when purchasing goods without this.
As a result, if the refunds DON’T go through, all the importers will have to default on their loans, sending both the financial and import industries into a tailspin — PLUS everyone having to shoulder the full effects of the ongoing tariffs.
Looks like most of this is happening outside the US - multinationals can apply for relief loans in other countries where they have an established workforce that could be impacted by the tariffs.
Eg, in Canada: https://cdev.gc.ca/applications-are-open-for-the-large-enterprise-tariff-loan-letl-facility/
As originally mentioned though, all this is loans to large multinationals; end users aren’t going to see the relief loans OR the refunds.