Supreme Court Decision Looms on Trump Tariff Authority
The U.S. Supreme Court is poised to deliver a landmark ruling on the legality of sweeping tariffs imposed under the Trump administration using the International Emergency Economic Powers Act. The outcome could invalidate billions in collected duties and reshape executive power in trade policy.
Corporations and Funds Position for Payouts
Major importers, including retail giants, have filed preemptive lawsuits to secure potential refunds. At the same time, a shadow market has emerged where small and midsize firms sell their refund claims to hedge funds at steep discounts—sometimes as low as a few cents on the dollar—seeking immediate liquidity over long legal battles.
Refund Process Remains Murky
Even if the Court rules against the tariffs, the path to repayment is uncertain. Past resistance from federal agencies suggests delays are likely. While U.S. Customs has hinted at an electronic claims system, no fully automated process is in place, leaving businesses to brace for a prolonged administrative fight.
Action Plan for Importers
Trade attorneys advise all affected companies to act now:
- Compile detailed records of all tariff payments since 2018
- Cross-check HTS codes and duty assessments for accuracy
- Prepare documentation for fast submission post-ruling