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According to Odaily, the final draft of an agreement between the United States and Iran has been reached with Pakistan's mediation. The announcement is expected to be made in the coming hours, as reported by the Islamic Republic News Agency (IRNA) citing Al Arabiya.

Key TakeawaysThe US government is beginning a process to refund roughly $166 billion in tariffs imposed under emergency powers during the Trump administration.More than 330,000 importers covering about 53 million shipments may be eligible.Refunds are expected within 60 to 90 days for straightforward claims.The Supreme Court ruled that only Congress has the authority to impose tariffs under the relevant law.The US government is launching a new refund system for businesses that paid tariffs imposed under President Donald Trump under emergency powers.The move follows a Supreme Court ruling that found those tariffs unlawful because they were imposed under emergency powers rather than through Congress. The Court concluded that only Congress has the authority to impose tariffs in this way.The refund process will be handled through a new customs system that allows businesses to file claims electronically and receive consolidated refund payments with interest.More than 330,000 importers across roughly 53 million shipments may qualify for refunds, with total repayments estimated at around $166 billion.Businesses that previously paid the tariffs can submit claims through the new customs portal.Officials expect many standard claims to be processed within 60 to 90 days, although more complex cases may take longer due to the scale of the refund effort and the need for additional review.The refunds will go directly to the importers that actually paid the tariffs rather than to consumers, although some businesses may later pass on benefits through lower prices or future settlements.