A federal judge has cleared the way for thousands of businesses to receive refunds for tariffs that the Supreme Court struck down last month.
The US Court of International Trade on Wednesday ordered Customs and Border Protection to issue refunds for levies US President Donald Trump introduced last year under the International Emergency Economic Powers Act (IEEPA).
“All importers of record whose entries were subject to IEEPA duties are entitled to the benefit” from the high court’s ruling, Judge Richard Eaton wrote.
The payment process remains murky. But the trade court decision marks a setback for Trump, who has moved to replace the import taxes and bemoaned the prospect of refunds.
Is this even a setback, am I missing something? Tarrifs -> companies raise prices -> tarrif refund -> companies keep prices. Citizens pay once to the tarrif, once in taxpayer money going to refunds, and forever more to raised prices. Companies get all that money instead which is exactly what trump and friends want. I haven’t been following too closely so someone let me know if my understanding is wrong?
Not much, just the part where it helped clear small companies out of the market if their margins were thin and had to raise their prices they may have just went under in the last year. I wonder if companies that declared bankruptcy in the last 12 months can also start lawsuits separately