Express
US Supreme Court to Rule on Trump Tariff Case
Summary: According to sources, the US Supreme Court is set to rule on the legality of the global tariffs imposed by the Trump administration under the International Emergency Economic Powers Act. If the ruling is invalidated, importers may face a potential struggle to obtain refunds of up to $150 billion in tariffs paid to the US ...
According to sources, the US Supreme Court is set to rule on the legality of the global tariffs imposed by the Trump administration under the International Emergency Economic Powers Act. If the ruling is invalidated, importers may face a potential struggle to obtain refunds of up to $150 billion in tariffs paid to the US government. The main challenge lies in the uncertainty of the refund process: even if successful, businesses widely expect the Trump administration to delay or refuse refunds. While US Customs has announced plans to implement an electronic refund system, the fully automated process is not yet clear. To safeguard their interests, several large importers, including Costco, have initiated preemptive lawsuits, while small and medium-sized enterprises are selling their refund rights at a steep discount (a few cents per dollar) to hedge funds in the secondary market. Experts advise that companies should immediately organize and verify detailed records of all paid tariffs and prepare to apply for refunds promptly after the ruling, in order to navigate potentially complex legal and administrative procedures that could last for several years.
