A new Business Insider article quoted partner Robert Shapiro, who leads Thompson Coburn’s International Trade team, on the potential ramifications if the Supreme Court overturns emergency tariffs.
After lower courts ruled President Trump’s emergency tariffs illegal, the Supreme Court agreed to hear and expedite the case. Depending on the timing and outcome of the court’s decision, the administration could have to refund up to $1 trillion in revenue if the tariffs are struck down, the article noted.
Robert said a company would typically have to file a protest for every entry to receive money from customs. However, that may be tough on customs when it comes to handling almost every shipment that has entered the U.S. since April.
“Having customs do the work twice for everything just doesn’t make sense,” he said. “It may eventually be up to the Board of International Trade to decide how to do the refunds.”
“What would be interesting to see next would be what this would legally open up,” he added. “Since many companies were explicit that they had to raise prices due to tariffs, customers may want their money back, too, if importers are getting theirs.”
Read the full article here (subscription required), and follow our International Trade updates on tariff developments here.
