"Now comes the battle over refunds for tariffs paid, which Trump on Friday predicted could take years. "I guess it has to get litigated for the next two years," he said at a White House press conference, while blasting the ruling as "terrible" and "defective." One reason: Over 1,000 companies have filed lawsuits to claw back money from the government."
"In his dissenting opinion, Justice Brett Kavanaugh also predicted the process could become a "mess," citing refund requests tallying "billions of dollars to importers," even as some importers have already passed those costs to consumers. Typically, the refund process would be handled by Customs and Border Protection, which collected the tariffs in the first place. In order for that to happen, the Trump administration would need to establish a process for handling refund requests."
The Supreme Court overturned the centerpiece of President Donald Trump's tariff plans, ruling the federal government illegally collected over $133 billion from American businesses. The ruling opens a complex refund process that could take years. Customs and Border Protection collected the tariffs and would typically handle refunds, but a formal refund process from the administration is not yet established. Without a formal process, claimants will litigate in the Court of International Trade, which can order CBP to issue refunds to specific companies. More than 1,000 companies have filed lawsuits seeking to recover tariff payments, and some importers already passed costs to consumers.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]