The U.S. Supreme Court is set to rule soon on the legality of global tariffs imposed by the Trump administration under the International Emergency Economic Powers Act. If the ruling is invalid, importers could face a potential battle over refunds of up to $150 billion in tariffs already paid from the U.S. government. A key challenge lies in the uncertainty of the refund process: even if they win, businesses generally expect the Trump administration to delay or refuse refunds. While U.S. Customs has announced the implementation of an electronic refund system, the fully automated process remains unclear. To secure their rights in advance, several large importers, including Costco, have filed preventative lawsuits, while small and medium-sized enterprises are selling their refund rights to hedge funds on the secondary market at extremely low discounts (a few cents to one dollar). Experts advise that companies should immediately compile and verify detailed records of all tariffs paid and prepare to apply for refunds immediately after the ruling, in order to cope with potentially complex legal and administrative procedures that could last for years. (Jinshi)
Brian
