If you're a major company pressing for tariff refunds, get in the queue.
The Supreme Court tariff ruling set off a blitz of lawsuits — which now number 2,000 and counting. The fate of the refunds, however, is another story
Kevin Carter/Getty Images
If you're a major company pressing for tariff refunds, get in the queue.
The amount of U.S. companies suing for refunds has exploded in the week since since the Supreme Court knocked down many of President Donald Trump's tariffs. It set off a blitz in lawsuits which now number 2,000 and counting, according to a Bloomberg News analysis.
The Supreme Court ruling didn't address the issue of refunds, and instead left it to the U.S. Court of International Trade to settle.
For now, at least $140 billion in collected tariff revenue hangs in limbo. The Trump administration has provided conflicting signals on whether it'd carry out a quick refund process or drag it out with court challenges. It has since sought to rebuild an alternate legal mechanism to collect global tariffs, though that's also likely to end up in court.
Describing its lawsuit, FedEx said it took "necessary action to protect the company’s rights as an importer of record to seek duty refunds." It added that it expected to refund its customers and shippers who paid the tariff charges if it wins in court.
Other companies that sued months ago include eyewear giant EssilorLuxottica SA, the Ray-Ban maker.
The U.S. government has issued refunds before, though never at this scale. In 1998, it oversaw a Supreme Court-ordered refund process affecting thousands of companies. Collected revenue was returned other companies beside those directly involved in the original case.
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