BYD files lawsuit, seeks refund over Trump's US auto tariffs [Yahoo! Finance Canada]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: Yahoo! Finance Canada
The lawsuit, the first by a ?Chinese carmaker over U.S. tariffs, follows similar complaints by thousands of global companies with U.S. operations challenging Trump's use of the International Emergency Economic Powers Act (IEEPA) to impose border taxes. In the lawsuit filed at the U.S. Court ?of International Trade on ?January 26, four of BYD's U.S. subsidiaries argue that the law does not authorize border taxes as "the text of ?IEEPA does not employ the word "tariff" or any term of equivalent meaning". In a separate, high-stakes case, the U.S. Supreme Court is expected to rule on the legality ?of the tariffs, but Trade Representative Jamieson Greer said last week ?the court was taking its time given the "enormous" stakes involved. BYD said in the lawsuit that it had to file an independent complaint to protect its ability to be refunded for the tariffs it has already paid. While the Chinese carmaker does not sell passenger cars in the U.S., its ?business in the country include
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News
- China, Mexico held talks amid trade tensions over tariffs [Yahoo! Finance Canada]Yahoo! Finance Canada
- BYD exec on aligning markets, manufacturing, and demand [CNN]CNN
- BYD files lawsuit, seeks refund over Trump's U.S. auto tariffs [CNBC]CNBC
- BYD shares set for six-week slump after posting two-year low in sales amid China EV slowdown [MSNBC.com]MSNBC.com
- BYD: King Of EVs With Ambitious Overseas Expansion Plans - Reiterate Buy [Seeking Alpha]Seeking Alpha