At the time, Trump claimed he had the authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA)—a 1977 statute intended for national emergencies. Tariffs justified by this act—including the “reciprocal” tariffs imposed last April, and levies on China, Mexico, and Canada tied to the flow of fentanyl into the U.S.—are the only ones impacted by the ruling.
Businesses have begun filing for refunds
More than 3,000 businesses, including high-profile plaintiffs FedEx, Costco, Skechers, Revlon, Toyota, and Nintendo of America, have already sued the Trump administration in hopes of securing refunds, a sign of their confidence in the tariff’s illegality.
Aaron Powell, CEO of small business Bunch Bikes, has had his documents ready to upload to the government’s refund portal for weeks, hoping to swiftly apply for the refund he says will amount to around $120,000.
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