US judge orders refunds for more than $130bn in illegal Trump tariffs
#Trump tariffs #illegal tariffs #refunds #US judge #trade policy #legal ruling #$130 billion
📌 Key Takeaways
- A US judge ruled that tariffs imposed under the Trump administration were illegal.
- The ruling mandates refunds totaling over $130 billion.
- The decision addresses tariffs implemented during Trump's presidency.
- The refunds impact businesses and importers affected by the tariffs.
📖 Full Retelling
<p>Trade court directs customs to repay importers with interest after supreme court ruled tariffs unlawful</p><p>A US trade court judge on Wednesday ordered the government to begin paying potentially billions of dollars in refunds to importers who paid <a href="https://www.theguardian.com/business/tariffs">tariffs</a> that the <a href="https://www.theguardian.com/us-news/us-supreme-court">supreme cour</a>t said last month were collected illegally. Richar
🏷️ Themes
Trade Policy, Legal Ruling
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Original Source
US judge orders refunds for more than $130bn in illegal Trump tariffs Trade court directs customs to repay importers with interest after supreme court ruled tariffs unlawful A US trade court judge on Wednesday ordered the government to begin paying potentially billions of dollars in refunds to importers who paid tariffs that the supreme cour t said last month were collected illegally. Richard Eaton, a judge of the US Court of International Trade in Manhattan, ordered the government to finalize the cost of bringing millions of shipments into the US without assessing a tariff, according to a court filing. He ordered the refunds to be made with interest. When merchandise is brought into the United States, an importer pays an estimated amount at entry which is then finalized around 314 days later, a process known as liquidation. Eaton directed Customs and Border Protection to finalize the entry cost on shipments without the tariff being assessed, resulting in a refund. “Customs knows how to do this,” he told a court hearing on Wednesday, according to a recording on the court’s website. He said the agency should be able to program its system to issue refunds, which are regularly issued when an importer overpays on an estimated duty. “They do it every day. They liquidate entries and make refunds,” he said. Eaton also set a hearing for Friday in which he asked for updates on CBP’s refund plans. He said in his order that the court’s chief judge indicated that Eaton is the only judge who will hear tariff refund cases. Customs and Border Protection has said in court filings that the task of finalizing entry costs without assessing a tariff was “unprecedented” in scale and could require manual review of more than 70m entries. The agency had said in other court filings it wanted up to four months to assess its options for paying refunds. CBP did not respond to a request for comment. “The language in this order strongly suggests an across-the-board approach that importers are en...
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