"The U.S. Court of International Trade and the U.S. Court of Appeals for the Federal Circuit in Washington ruled earlier this year that Trump's biggest and boldest import taxes are illegal. The case is now before the Supreme Court. In a Nov. 5 hearing, several of the high court's justices expressed doubts that the president had sweeping power to declare national emergencies to impose tariffs on goods from almost every country on earth."
"If the court strikes down the tariffs, importers may be entitled to refunds on the levies they've paid. "It's uncertain whether refunds will be granted and, if so, how much," said Brent Skorup, a legal fellow at the libertarian Cato Institute. "But the possibility has prompted many companies - including Costco - to file actions in the U.S. Court of International Trade to get in line, so to speak, for potential refunds.""
"In a complaint filed last week with the U.S. Court of International Trade in New York, Costco said it is demanding the money back now "to ensure that its right to a complete refund is not jeopardized." The operator of warehouse-sized stores expressed concern that it could not get a refund once the tariff bills have have gone through liquidation by Customs and Border Protection, a process Costco says will start Dec. 15."
U.S. appellate courts ruled earlier this year that the president's largest import tariffs are illegal, and the Supreme Court is now considering the case. Several justices expressed skepticism in a Nov. 5 hearing about the president's authority to declare national emergencies to impose tariffs on goods from nearly every country. If the Supreme Court invalidates the tariffs, importers may be eligible for refunds. Costco filed a complaint in the U.S. Court of International Trade seeking refunds and to protect its right before Customs and Border Protection begins liquidation on Dec. 15. Revlon and Bumble Bee Foods filed similar claims. The tariffs have raised about $90 billion.
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