Trump Admin Slammed by 2,000 Tariff Lawsuits Following SCOTUS Ruling - TipRanks.com

Following last week’s Supreme Court decision ruling President Trump’s tariffs under the International Emergency Economic Powers Act (IEEPA) illegal, thousands of companies have lined up to file lawsuits against the administration seeking tariff refunds. These include Costco (COST), FedEx (FDX), Dollar General (DG), Skechers (SKX), and many more.

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SCOTUS didn’t provide guidance on how refunds would be provided, leaving the decision to a lower court. However, the court warned that the process “is likely to be a ‘mess,’ as was acknowledged at oral

arguments.”

Hundreds of Billions of Tariff Revenue Hangs in the Balance

The Trump administration is weighing several options to retain as much of the tariff revenue as possible, according to Politico. One option would give companies refund priority if they agree to forfeit part of the funds to the government. Another option would propose that tariffs collected over the past year comply with a new set of duties being implemented under different laws.

Senate Democrats have already introduced a bill to refund up to $175 billion of tariffs. The legislation would require the U.S. Customs and Border Protection (CBP) to fully process all refunds, with interest added, within 180 days of its passage.