Uncertainty expected as Portland-area Asian shopping center navigates tariff refund process

The chief financial officer of one of Oregon’s largest Asian shopping centers expects the federal government’s tariff refund process to be just as chaotic as the on-again, off-again rollout of tariffs in the first place.

Michael Liu is the head finance officer for his family’s two Oregon-grown businesses: Jinthay Trading Corporation and Portland’s Fubonn Shopping Center. He’s working with the broker for the companies to try to reclaim some of the tariff money that the U.S. Supreme Court ruled the Trump Administration collected illegally.

“As a business we’ve decided we’re applying for the refund,” Liu said. “But if we do get the refund back, I don’t think we would deploy it and use it for the things we need to do for our business, because we’re very uncertain if that decision is going to last and those funds are really back in our pocket or not.”

When President Donald Trump first enacted tariffs about a year ago, it dropkicked the economy into a state of uncertainty. Companies like Liu’s, which import things like rice noodles and specialty sauces to distribute to Portland restaurants and markets, were all of a sudden paying a lot more.

Adding to the challenge of increased costs was inconsistency — the amount an importer would pay in tariffs varied depending on which country the item came from.

“We’re at the mercy of our exporters to load the ships,” Liu said. “I can’t say ‘hold my containers back because the administration had a bad discussion with that country today, and the rates are 45% right now.’ If it loaded at 45%, that’s the tariff I would be paying to get my shipment when it lands in the United States.”

Trade helps drive Oregon’s economy. In 2024, companies operating in the state imported around $28 billion worth of parts and finished products, and exported about $34 billion to global markets. That’s according to data from the U.S. Census Bureau’s Foreign Trade Division, accessed through wisertrade.org.

Last year, imports rose to around $30.5 billion — in part due to a massive amount of importing before tariffs took hold. Meanwhile, exports dropped to just under $28 billion. Fertilizer and equipment for manufacturing continue to be some of Oregon’s biggest imports. But nearly every business in the region is touched by imports, from finished goods like clothing and furniture for retail shops, to components for things like candles, camping gear or computers.

Days after the U.S. Supreme Court ruled that a large swath of the President’s tariffs violated the law, Ron Wyden, Oregon’s senior U.S. Senator, co-sponsored legislation meant to encourage the refund process.

“Trump’s illegal tax scheme has already done lasting damage to American families, small businesses and manufacturers who have been hammered by wave after wave of new Trump tariffs,” Wyden said in a statement in February. “A crucial first step is helping people who need it most, by putting money back in the pockets of small businesses and manufacturers as soon as possible.”

Wyden’s bill has been introduced and given a committee assignment, but hasn’t passed Congress.

The tariff refund process has started with neither Wyden’s bill passing nor further litigation — at least for now. On April 20, U.S. Customs and Border Patrol opened a portal for companies like Jinthay Trading Corporation to apply for a refund, which the federal agency says could take up to three months to issue. Officials estimate the government owes importers around $175 billion for the portion of Trump’s tariffs deemed illegal.

However, economists expect the refunds to have a muted impact on the economy. They are only being doled out to the importer on record with the government — often a middle company that brings in goods and sells to retailers or manufacturers — and it’s unclear if that money will trickle down to the businesses that bought items from an importer.

Added to the complexity is ongoing uncertainty. The Trump administration could pursue new tariffs using a different legal argument, or resume its fight against the refund process, Liu said.

“There’s a portion of the refunds we’re potentially able to get back,” said Liu, who is currently the chair of the Portland Metro Chamber. “But even if refunds are received, some businesses might still be really cautious about what they can do with those funds.”