WASHINGTON \u2014 A federal court on Monday rejected the Trump administration’s attempt to slow the process of refunding billions of dollars’ worth of tariffs the Supreme Court struck down as illegal last month.<\/p>\n
What You Need To Know<\/p>\n
A federal court on Monday rejected the Trump administration’s attempt to slow the process of refunding billions of dollars’ worth of tariffs the Supreme Court struck down as illegal last month
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The U.S. Court of Appeals for the Federal Circuit started the next phase in the refund process by sending it to a lower court to sort out
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In a court filing Friday, Trump’s Justice Department had urged the Federal Circuit to proceed cautiously and hold off for 90 days,\u00a0but the judges refused<\/p>\n
The U.S. Court of Appeals for the Federal Circuit started the next phase in the refund process by sending it to a lower court to sort out.<\/p>\n
In a court filing Friday, Trump’s Justice Department had urged the Federal Circuit to proceed cautiously and hold off for 90 days. But the judges refused.<\/p>\n
The Supreme Court ruled Feb. 20 that Trump’s sweeping tariffs on most countries in the world were illegal, clearing the way for the importers who paid them to seek refunds.<\/p>\n
The government had collected more than $130 billion from the tariffs by mid-December, and could ultimately be on the hook for refunds worth $175 billion, according to calculations by the Penn Wharton Budget Model.<\/p>\n
But the Supreme Court offered no guidance on refunds; its decision did not even mention them. Now the U.S. Court of International Trade in New York will decide how the complicated refund process should proceed.<\/p>\n
“I would expect the Court of International Trade to quickly issue an order requesting a status update from the government on their plans with respect to refunds (or expedited briefing),” said trade lawyer Ryan Majerus, a partner at King & Spalding and a former U.S. trade official. “I expect the court to take an aggressive posture, asking the government to justify how they intend to comply with the Supreme Court’s ruling.”<\/p>\n
Siddartha Rao, a partner at law firm Hoguet Newman Regal & Kenney, said he has been getting a lot of calls from clients with questions.<\/p>\n
“We are somewhat in uncharted territory,” he said.<\/p>\n
The Trump administration has been reaching for new tariffs to replace the ones the Supreme Court struck down.<\/p>\n
One question, he said, is how the government might actually pay for these refunds.<\/p>\n
“Everyone is sort of cognizant of the fact that it’s not like there’s over a hundred billion dollars sitting in, you know, in a room somewhere to just cut checks,” Rao said. “So, you know, this is a Treasury problem, and it may very well be that the administration is reimposing tariffs for the reasons that it’s cited … it’s important for strategic trade agreements and for bargaining power and all of that. But it also might be that they need to raise revenue to pay out refunds.”<\/p>\n","protected":false},"excerpt":{"rendered":"WASHINGTON \u2014 A federal court on Monday rejected the Trump administration’s attempt to slow the process of refunding…\n","protected":false},"author":2,"featured_media":175540,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[12109,12111,26796,274,2205,249,251,250,115,12110,99,278],"class_list":{"0":"post-175539","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fort-lauderdale","8":"tag-all-markets-rank-everywhere","9":"tag-app-for-your-consideration","10":"tag-app-national-politics","11":"tag-app-top-stories","12":"tag-associated-press","13":"tag-fort-lauderdale","14":"tag-fort-lauderdale-headlines","15":"tag-fort-lauderdale-news","16":"tag-news","17":"tag-nnt","18":"tag-politics","19":"tag-top-stories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/175539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=175539"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/175539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/175540"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=175539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=175539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=175539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}