"The Supreme Court ruled Feb. 20 that Trump's sweeping tariffs on most countries in the world were illegal, clearing the way for the importers who paid them to seek refunds. The government had collected more than $130 billion from the tariffs by mid-December, and could ultimately be on the hook for refunds worth $175 billion, according to calculations by the Penn Wharton Budget Model."
"I would expect the Court of International Trade to quickly issue an order requesting a status update from the government on their plans with respect to refunds (or expedited briefing). I expect the court to take an aggressive posture, asking the government to justify how they intend to comply with the Supreme Court's ruling."
"We are somewhat in uncharted territory. One question is how the government might actually pay for these refunds. The Trump administration has been reaching for new tariffs to replace the ones the Supreme Court struck down."
The U.S. Court of Appeals for the Federal Circuit refused the Trump administration's request to postpone the tariff refund process by 90 days. The Supreme Court previously ruled that Trump's tariffs on most countries were illegal, entitling importers to seek refunds. The government collected over $130 billion from these tariffs, with potential refund obligations reaching $175 billion. The case now moves to the U.S. Court of International Trade in New York to establish procedures for the refund process. Legal experts anticipate the court will demand the government justify its compliance plans with the Supreme Court's ruling and provide status updates on refund implementation.
Read at www.twincities.com
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