April 12, 2026
Fortune quoted Wes Harrell, head of Seaport Global’s trading group, on the growing trend of importers using IEEPA tariff refund claims as collateral for loans. The piece examines why some companies are exploring financing against their claims rather than selling them outright, and why Harrell sees meaningful risks in that approach compared to a clean sale.
Key takeaways:
- The Supreme Court struck down IEEPA tariffs, leaving the U.S. government on the hook for an estimated $166 billion in refunds to importers. CBP’s automated refund system is launching April 20, but some experts believe full distribution could take years given the scale of claims.
- Many companies are too cash-strapped to wait for IEEPA refunds and are either borrowing against their claims or selling them outright to institutional buyers.
- Loans backed by refund claims carry real risk. If refunds are delayed or reduced, interest costs could exceed the refund itself.
- A secondary market has emerged where companies sell the rights to their claims for immediate liquidity. Fortune quotes Seaport Global’s Wes Harrell as a key expert in the claims trading market.
Read the full article here.
Contact Seaport Global to evaluate your IEEPA claim.
Seaport Global and Seaport Loan Products LLC provide financial services and are not engaged in the practice of law. This post is for informational purposes only and does not constitute legal or financial advice. Companies should consult qualified trade counsel regarding their specific legal rights and obligations.
