The White House claims it will fight back against these corporations for Trump tariffs

Donald Trump tariffs

On Friday, the White House hinted that it would probably fight to keep the $175 billion in Trump tariffs that had already been collected after the Supreme Court ruled that they were unlawful. This could lead to a confrontation with big businesses. Like Costco, Reebok, and Xerox, who have already filed preemptive lawsuits to try to recoup some of those costs.

The Supreme Court ruled 6-3 against Trump’s tariffs, determining that the president lacked the authority. Under the International Emergency Economic Powers Act (IEEPA) to impose them as he had claimed.

Companies that have already paid the IEEPA tariffs may now be entitled to a refund of that money. Because while the justices did not specify anything about refunds in their ruling. The court suggested that the tariffs were not legal in the first place.

Since trade experts believe it is unlikely that the Trump administration will automatically refund the tariffs. Hundreds of companies have begun filing lawsuits in the U.S. Court of International Trade, preemptively asking the court to declare the IEEPA tariffs they have paid illegal and order the government to refund them.

Companies requesting tariff refunds have already filed more than 1,000 lawsuits. Costco, Kawasaki Motors, EssilorLuxottica (owner of well-known eyewear brands like Ray-Ban), Revlon Cosmetics, Bumble Bee Foods, Schick Manufacturing, Playtex, Spencer Gifts, PopSockets, Conair, Xerox, Goodyear Tire & Rubber Company, Dooney & Bourke, Barnes & Nobles, Reebok, PUMA, Lane Bryant, Steve Madden, Bath & Body Works, Bose, TOMS Shoes, Dole Fresh Fruit Company, e.l.f. Cosmetics, J. Crew Group, Peloton Interactive, Blick Art Materials, lululemon, Abercrombie and Fitch, Heineken, The Container Store, Lyft, Cole Haan, Patagonia, Ashley Furniture, Uniqlo, Aldi, Hugo Boss, Staples, Dolce & Gabbana, Hormel Foods, Toshiba, and Diageo—owners of well-known alcohol brands like Guinness and Smirnoff.

According to an estimate by economists at the Penn-Wharton Budget Model, the Trump administration may have to reimburse roughly $175 billion in tariffs, Reuters reported on Friday.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *