After the Supreme Court's ruling on tariffs, companies line up for refunds
NPR • • nation
Key Points:
- The Supreme Court struck down President Trump's tariffs imposed under the International Emergency Economic Powers Act (IEEPA), ruling the president lacked authority to tax imports, but left unresolved how the $133 billion already collected in tariffs will be refunded.
- Trade experts predict importers will eventually receive refunds, but the process is expected to be complicated, involving U.S. Customs, the Court of International Trade, and possibly years of litigation.
- While companies may recover tariff costs, consumers are unlikely to receive refunds for higher prices passed on by importers, and legal battles may continue over the distribution of any refunds.
- Some states, including Illinois and Nevada, are actively seeking refunds on behalf of residents, with demands totaling billions of dollars, signaling potential further
