US EditionGetting Refunds From Trump’s ‘Illegal’ Tariffs Will Be a Messy, Long Process: Trade Lawyer
The Supreme Court invalidated $180 billion in emergency tariffs, leading companies to seek refunds while consumers face limited chances of direct reimbursement.
- After the Supreme Court struck down emergency tariffs, companies and importers are demanding refunds from the federal government, with Trump saying `I guess it has to get litigated over for the next two years.`
- Because collections flowed into the country's general fund, returning payments presents accounting challenges, as American businesses and shoppers paid most of the billions collected for the emergency tariffs.
- Goldman Sachs estimated roughly $180 billion was collected under the tariffs, typically paid by businesses and consumers, while refunds risk double-counting and Robert Shapiro warned recoveries would be minimal.
- Shoppers will likely wait as companies pursue refunds, while Illinois Gov. JB Pritzker demanded $1,700 per family and California Gov. Gavin Newsom backed direct checks alongside Democratic leaders.
- Companies like Fabletics, which clearly labeled surcharges, would find refunds easier to trace, though Michael Ettlinger said tracing is impossible.
16 Articles
16 Articles
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On Friday, the Supreme Court ruled that President Donald Trump’s tariffs were illegal, striking a blow to his favorite geopolitical strategy. The decision could make it far harder for any president to wield tariffs as a weapon, but how will the ruling affect your wallet?Today on Lever Time, David Sirota sits down with trade expert Lori Wallach, director of the Rethink Trade program at the American Economic Liberties Project. Lori and David unpac…
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