Over 1,000 companies line up for tariff refunds anticipating Supreme Court ruling

The U.S. Supreme Court is expected to rule on the legality of President Donald Trump’s sweeping “Liberation Day” emergency tariffs. The court could issue a ruling on Friday that would decide whether the president had the legal authority to impose the duties under the International Emergency Economic Powers Act (IEEPA). While it’s unclear whether the court will rule in the case, over 1,000 companies have already lined up for a potential refund of the tariffs they paid, if the ruling is struck down, Bloomberg reported. The court, as customary, hasn't said what cases will be acted upon, but the growing suite of companies is hoping for a decision in their favor.

If the court strikes down the tariffs, the companies that have already paid the IEEPA tariffs could be eligible to get a refund. As per Reuters, importers across the country are expecting to get about $150 billion in refunds from the U.S. government, and since, trade experts believe that it's unlikely that the Trump administration would automatically issue the payments, companies started filing lawsuits in the U.S. Court of International Trade, preemptively asking the court to declare the IEEPA tariffs unlawful and order the government to refund them.

As per Bloomberg, over 900 lawsuits have already been filed on behalf of 1,000 companies named as plaintiffs. Among the most notable names are Costco, Kawasaki Motors, EssilorLuxottica (maker of Ray-Ban), Revlon Cosmetics, Reebok, Xerox, Goodyear Tire & Rubber, Puma, Steve Madden, Bose, PopSockets, and Diageo, which owns major alcohol brands such as Guinness and Smirnoff. Other companies that filed lawsuits include  Bumble Bee Foods, Schick Manufacturing, Playtex, Spencer Gifts, Conair, Dooney & Bourke, Barnes & Noble, Lane Bryant, Bath & Body Works, TOMS Shoes, Dole Fresh Fruit Company, and e.l.f. Cosmetics, J. Crew Group, Peloton Interactive, and Blick Art Materials. 

For now, the cases are on hold until the Supreme Court rules on the matter. If the apex court rules in favor of the administration, these cases are likely to be dropped, Forbes reported. However, if the court strikes the tariffs down, there will likely be another fight for a unified, automatic system for issuing the refunds. Trump made tariffs the centerpiece of his economic agenda since the start of his second term. The administration first imposed tariffs on China, Mexico, and Canada and then rolled out more sweeping duties on imports from nearly all countries at a “Liberation Day” event in April, using the IEEPA. The president has warned that a ruling against him would have an unwinding effect on the economy, with trillions at stake. 

Treasury Secretary Scott Bessent said he doesn't expect much clarity from the court. In an appearance in Minneapolis on Thursday, he said he expects a  “mishmash” ruling. “What is not in doubt is our ability to continue collecting tariffs at roughly the same level, in terms of overall revenues. What is in doubt, and it’s a real shame for the American people, is that the president loses flexibility to use tariffs both for national security and for negotiating leverage," he said, as per CNBC. 

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