With US Supreme court striking down the penalty tariffs levied using International Emergency Economic Powers Act (IEEPA) of 1977 the tax collected using these tariffs over the past 6 months which total approximately $133.5B+ is now legally void.
Companies (Importers in USA) should apply for refund of these penalty tariffs which is not easy as there will still be new court cases, interpretations and multiple regulations. Timeline may be some months/years.
Question is will the exporters who reduced prices in lieu of tariffs will get some portion of this refund from their customers to compensate for their sacrifice? A big question - need to wait and watch. Exporters please watch out and try to re-coup some of your sacrifices
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