US could owe over €110bn in tariff refunds after court rejects Trump delay [Yahoo! Finance]
ADIDAS AG S/ADR (ADDYY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
stake after a US appeals court moved to fast-track the question of refunds following the Supreme Court's landmark ruling against President Donald Trump's trade measures. In a concise one-page order on Monday, the US Court of Appeals for the Federal Circuit in Washington remanded the matter immediately to the US Court of International Trade (CIT), rejecting the Justice Department's request for a delay of up to four months to allow the administration time to weigh its options. The Supreme Court's 6–3 decision on 20 February found that the International Emergency Economic Powers Act (IEEPA) of 1977 does not grant the president authority to impose tariffs, invalidating sweeping duties introduced in 2025. Those measures included a 10% “reciprocal” baseline tariff on goods from nearly all US trading partners, alongside higher rates tied to perceived trade deficits and targeted duties such as 25% on certain imports from Canada and Mexico and 10% on China. The reciprocal IEEPA tariffs
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