"It's pretty murky how the importers will get the refunds. So it's really important for companies to take the necessary steps to preserve their right to refunds. He stressed using administrative tools, such as protests and post-summary corrections, to keep claims alive. Those steps may be required to secure a day in court if companies ultimately litigate in the Court of International Trade."
"For importers, the core issue is what to do if refunds materialize. The importer of record pays duties and would receive any refund, raising questions about whether and how to share that value with customers or suppliers."
"Executives are divided on how to handle possible refunds and are reluctant to roll back prices even if costs ease. About half of the respondents plan to work with third parties, such as law firms, to facilitate reimbursements and coordinate protests and potential litigation."
Following the Supreme Court's IEEPA ruling, tariffs have become a structural reality for corporate America with potential refund implications. A KPMG survey of 300 C-suite leaders at organizations with revenues above $1 billion reveals executives are divided on handling possible refunds and resistant to rolling back prices even if costs decrease. The importer of record receives duties and any resulting refunds, creating uncertainty about value distribution to customers or suppliers. Companies must use administrative tools like protests and post-summary corrections to preserve refund rights. Approximately half of respondents plan engaging third parties such as law firms to manage reimbursements and coordinate litigation. If refunds materialize, companies indicate they would prioritize reinvestment in supply chain diversification and resilience.
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