US EditionSupreme Court expected to rule Friday on Trump's power to impose tariffs
If struck down, importers could claim up to $150 billion in refunds, while U.S. Customs and Border Protection prepares to shift to an all-electronic tariff refund system.
- The U.S. Supreme Court could decide on Friday whether President Donald Trump's IEEPA tariffs were lawful, with U.S. Customs and Border Protection saying over $133.5 billion in tariffs assessed through December 14 might be refundable.
- President Donald Trump invoked the International Emergency Economic Powers Act to impose tariffs starting February 4, marking the first use of IEEPA for import taxes rather than sanctions, with expansions on March 4 and April 5.
- U.S. Customs and Border Protection will shift refunds to electronic distribution on February 6, and Susan Thomas said `Enhancing ACE enables secure electronic refunds, faster payments, fewer errors and a simplified process for importers, brokers and refund recipients`.
- Investors say a ruling requiring refunds would channel US$150-billion to US$200-billion to importers over the coming months, bolstering their bottom lines and potentially jolting U.S. financial markets.
- Companies like Costco have sued to preserve refund claims, while some smaller firms sell them to hedge funds for pennies amid potential multi-year disputes with the U.S. government.
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Trump Tariff Decision: If the US Supreme Court rules against the Trump administration, that is, if it concludes that the tariffs imposed during Trump's tenure were illegal, it will have major legal, economic, and political implications. Trump will be put on the back foot on the tariff issue.
Markets brace for Supreme Court verdict on Trump’s emergency tariffs
A pending US Supreme Court ruling on Donald Trumps emergency tariff powers could spark sharp market moves. Striking down the levies may boost equities and corporate cash flows but raise bond yields, while alternative tariff routes could limit lasting impact, keeping fiscal and market uncertainty elevated.
The Straits Times
US importers brace for $192 billion tariff refund fight if Trump loses at Supreme Court
Importers are preparing for a potential $192 billion tariff refund battle if the Supreme Court rules against Trump's global tariffs. Read more at straitstimes.com.
BREAKING: Supreme Court Set To NUKE President Trump's Tariffs As Early As Tomorrow Morning
Folks, I don’t like reporting on this but I don’t only report things when I know it’s something you will want to hear. I have to report the truth, even when it’s bad news. And in this case I’m reporting on something that could still turn out to be incorrect, but right now there is a 77% chance the Supreme Court is set to rule on President Trump’s tariff’s tomorrow morning and strike them down. Here is Forbes: Supreme Court Could Rule On Tariffs…
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