Tariff refunds could take years amid US Supreme Court ruling, experts warn

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The US Supreme Court ruled against President Trump's use of the International Emergency Economic Powers Act (IEEPA) to impose global tariffs, leaving the refund process for approximately $175 billion in collected tariffs uncertain. The case returns to the Court of International Trade to oversee refunds, with over 1,000 lawsuits already filed by importers. Experts predict the government will likely require individual refund applications, potentially burdening smaller businesses due to the costs and time involved in navigating the procedures. Legal experts anticipate procedural delays and a lengthy refund process, potentially taking years to resolve. Larger companies are expected to be better equipped to navigate the process than smaller importers.
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