"Small businesses mainly spearheaded the initial wave of lawsuits against tariffs, but some of the largest global corporations are now filing lawsuits in fear that they may not be refunded should the Supreme Court overturn the duties. Typically, duties paid to the Customs and Border Protection undergo a process called liquidation within a year of the entry of the goods in question. Once liquidation occurs, the chances of getting any money back become slim - and for many companies, their time is running out."
""And this action is necessary now because the entries for which Plaintiffs paid tariffs imposed under authority of IEEPA will begin to become liquidated and final as a matter of law by January 31, 2026," the companies wrote in the complaint. "Plaintiffs seek relief from the impending final liquidations to ensure that their right to a complete refund is not jeopardized," they added."
The Supreme Court is reviewing the legality of tariffs enacted under the International Emergency Economic Powers Act. Corporations that paid tariffs over the past year face a liquidation process that typically finalizes duties within a year of goods entry. Once liquidation occurs, the likelihood of obtaining refunds becomes slim. Small businesses led initial legal challenges, and large global companies have begun filing to protect refund rights. Plaintiffs cite impending liquidation deadlines that could bar recovery. Major firms including Toyota have filed suits to pause finalizations and preserve the ability to secure complete tariff refunds.
Read at Business Insider
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