Tuesday, April 14, 2026
TARIFF.NEWS DAILY BRIEFING — April 13, 2026
TARIFF REFUND ROLLOUT BEGINS
The Trump administration is moving forward with its IEEPA tariff refund program following the Supreme Court's February ruling. U.S. Customs and Border Protection confirmed the first wave of refunds to importers will begin April 20, according to the Journal of Commerce. Plastics News reports the administration has begun formally accepting refund applications. However, Politico notes the rollout is leaving many importers on the sidelines for now, with eligibility and processing questions still unresolved for a large share of affected businesses.
STRAIT OF HORMUZ BLOCKADE TAKES EFFECT
The dominant geopolitical story shaping trade conditions today is the U.S. naval blockade of the Strait of Hormuz, which took effect Monday at 10 a.m. after weekend peace talks with Iran collapsed after 21 hours. Oil prices surged past $100 per barrel, with West Texas Intermediate hovering around $104, according to The Hill. Trump said 34 ships passed through the strait on Sunday, which he called a record. Iran's parliament speaker responded with threats against Persian Gulf ports. Republican lawmakers are privately expressing concern about gas prices heading into midterm season, The Hill reports. The Iran situation is already causing downstream effects domestically — Baltimore announced it is reducing fluoride levels in its water supply due to national shortages tied to the conflict.
CONGRESS RETURNS TO A CHAOTIC WEEK
Lawmakers return to Washington this week facing a packed agenda compounded by a sudden wave of misconduct-driven departures. Rep. Eric Swalwell (D-Calif.) announced his resignation from Congress Monday after sexual assault allegations surfaced Friday. He had already suspended his California gubernatorial campaign Sunday. The House Ethics Committee launched an investigation into Swalwell, and bipartisan calls for his removal had grown rapidly. In a parallel move, Rep. Tony Gonzales (R-Texas), also facing misconduct allegations, announced he will file for retirement when the House reconvenes Tuesday. The Cook Political Report shifted four Senate races toward Democrats on Monday, citing a worsening national environment for Republicans, according to The Hill.
TRUMP AND POPE LEO FEUD ESCALATES
Pope Leo XIV, the first American pope, publicly pushed back at President Trump after Trump called him "weak" for speaking out against the Iran war. "I'm not afraid of the Trump administration," the pope said, according to The Hill. Italian Prime Minister Giorgia Meloni, a Trump ally, called his remarks toward the pope "unacceptable." Trump told reporters Monday he does not owe the pope an apology. Separately, Trump deleted an AI-generated image depicting himself as Jesus Christ after backlash from Christian conservatives who called it blasphemy. Trump told reporters he thought it was an image of himself as a doctor.
OTHER DEVELOPMENTS
The Tax Foundation published a critique of American Compass's "Tariff Tally" analysis, arguing that tariffs will not boost total investment as the group claims. Rory McIlroy won the 2026 Masters for the second consecutive year, and Trump offered congratulations. The California Republican Party declined to endorse a gubernatorial candidate despite Trump's backing of Steve Hilton. Melania Trump is expected on Capitol Hill this week for a roundtable on foster care reform.
WHAT TO WATCH
The April 20 deadline for the first wave of IEEPA refund payments is the key date for importers and trade attorneys to monitor. Congress returns Tuesday, where expulsion motions and resignation logistics for Swalwell and Gonzales will immediately test House leadership. The Strait of Hormuz blockade is in its opening hours, with oil markets and Iran's response likely to drive headlines through the week. CBP is expected to release additional guidance on refund eligibility in the coming days.