"This year, [Customs and Border Protection] has been fast-tracking the tariff dollars to Treasury, which puts the question of potential rebates into question," policy analysts at TD Cowen wrote in a note Monday morning. The analysts note that the agency usually allows 314 days after goods are imported into the country to liquidate the payments and send the money to the Treasury. That window ends Monday for the first set of tariffs imposed on a slew of Chinese goods."
"What they're saying: "What law firms are saying to companies is, 'Look if you want to be in the front of the line for refunds, we should get these cases filed now because the court is going to deal with these cases in the order they come in,'" Tony Gulotta, a principle at the business tax firm Ryan, tells Axios."
Major companies including Costco, Revlon, Bumble Bee Foods, and the maker of Ray-Ban have sued in the U.S. Court of International Trade seeking refunds if the Supreme Court overturns the tariffs. Customs and Border Protection has been fast-tracking tariff dollars to the Treasury, raising doubts about potential rebate availability. The agency typically allows 314 days after importation to liquidate payments and transfer funds; that window has ended for the first set of Chinese tariffs, which could create timing obstacles to refunds. Law firms are urging early case filings to secure favorable processing order while DOJ has signaled the potential scale of refunds.
Read at Axios
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