Following a string of favorable court rulings, a growing number of U.S. importers are moving to convert stalled tariff refund claims into immediate liquidity. Asset Enhancement Solutions (AES), a national debt advisory firm, reported that it has facilitated the monetization of $20 million in claims under the International Emergency Economic Powers Act (IEEPA) over the last five months.
The surge in activity follows a pivotal Feb. 20, 2026, Supreme Court decision and subsequent March rulings from the U.S. Court of International Trade (CIT). These legal developments have significantly bolstered the market for these claims; buy rates, which averaged just 22% prior to the Supreme Court ruling, have climbed to between 50% and 72% of the refund amount.
While the courts have moved in favor of importers, the actual receipt of funds from the government remains a bottleneck. Trade experts suggest that a combination of administrative appeals, requests for stays, and necessary system upgrades at U.S. Customs and Border Protection could delay direct refunds for two to five years.
For companies in the food, apparel and home goods sectors, this timeline is often untenable. By selling these claims at a discount to financial institutions, importers are gaining access to capital in approximately four to six weeks.
The ability to monetize these claims offers a strategic “exit” for asset-based lenders whose borrowers may be facing liquidity crunches. According to AES, importers are increasingly using these accelerated funds to:
- Pay off over-advances on credit lines.
- Secure necessary working capital.
- Return to compliance with bank covenants.
“With the significant increase in buy rates and negativity regarding timing in the media, importers are now coming off the sidelines,” said Neil Seiden, Managing Director of AES.
The firm, which previously managed high-volume documentation for PPP and ERC programs, noted that eligibility for monetization typically begins at claim sizes of $500,000, with no upper limit on the transaction size.
