FedEx sues Trump administration for tariff refund. Everything we know [USA TODAY]
ESSILOR LXTTCA UNSP/ADR (ESLOY)
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Source: USA TODAY
Court of International Trade seeking a refund for President Donald Trump's emergency tariffs, one of the highest profile moves to recover funds since the U.S. Supreme Court last week deemed the tariffs illegal A flood of lawsuits to recover billions of dollars is expected by trade attorneys after the blockbuster ruling. The recovery process still has to be worked out by a lower court, though, complicating the matter. More than $175 billion in U.S. tariff collections are subject to potential refunds after the U.S. Supreme Court on Feb. 20 ruled 6-3 that Trump overstepped his authority by using the International Emergency Economic Powers Act, a sanctions law, to impose tariffs on imported goods, Penn-Wharton Budget Model economists said. "Plaintiffs seek for themselves a full refund from Defendants of all IEEPA duties Plaintiffs have paid to the United States," FedEx said in the lawsuit, referring to tariffs Trump imposed. FedEx and its logistics arm served as importer of record
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