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Stock impact report

Law firms gird for tariff refund fight after Supreme Court ruling [Yahoo! Finance Canada]

Diageo plc (DEO) 
US:NYSE Investor Relations: diageo.com/en/investors
Supreme Court ruled on Friday that President Donald Trump lacked authority to impose tariffs under a law meant for use in national emergencies, litigation is expected ?to turn to the U.S. Court of International Trade, where companies have already hired an army of lawyers to ?help them recoup their tariff losses. Trade attorneys said the volume of cases seeking refunds for tariffs already imposed – more than 1,800 already – could surge now that ?the justices rejected the legal rationale behind an estimated $175 billion in U.S. customs revenue since last April. Trump at a White House press conference on Friday said he would levy more tariffs and predicted the process for companies seeking refunds would be a lengthy legal battle. “We'll end up being in court for the next five years,” he said. Washington law firm Crowell & Moring has filed at least 150 cases seeking refunds ?at the trade court since Trump's “Liberation Day” tariff ?announcement last April, according to a Reuters rev Show less Read more
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