"Companies need to track every customs duty that can be directly attributed to tariffs imposed under the International Emergency Economic Powers Act, which accounts for about half of all tariffs. U.S. Trade Representative Jamieson Greer said it's up to the lower courts to decide how refunds will be paid. Companies will have to not only document that they paid but also how much they may have to spend to recover those payments:"
"While many CEOs have been reluctant to criticize Trump's tariffs in public, they've been vociferous in complaints behind the scenes. At the Yale CEO Caucus in Washington a year ago, for example, more than two-thirds of CEOs said they thought the tariffs were illegal, harmful and would be passed along through higher costs for customers. While the Supreme Court decision may have pierced the president's 'seeming invincibility,' it's done little to calm their nerves."
Supreme Court limits on using emergency powers for tariffs prompted the president to reissue tariffs under Section 122 of the 1974 Trade Act. The court offered no guidance on recouping duties paid under the prior authority. Companies need to identify and document every customs duty directly tied to IEEPA tariffs, quantify potential recovery costs, and prepare legal claims because refund processes will be determined in lower courts. Many CEOs criticize the tariffs privately but avoid public confrontation. Protectionist trade dynamics are strengthening as leaders explore alternative legal routes to impose tariffs.
Read at Fortune
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