economy
Companies start getting tariff refunds after Supreme Court decision
After the Supreme Court ruled some of President Trump's tariffs unconstitutional, the first wave of tariff refunds have begun flowing in.
TL;DR
- Oshkosh Corporation and Basic Fun have begun receiving tariff refunds.
- Basic Fun plans to use refund dollars to support cash flow, invest in its team, increase salaries, and offer promotions.
- UPS, FedEx, and DHL will file tariff refund requests for their customers.
- The first phase of refunds covers requests for entries finalized within the past 80 days.
- The U.S. Customs and Border Protection expects to refund $35.46 billion on 8.3 million shipments.
- The Supreme Court invalidated President Trump's tariffs imposed under the International Emergency Economic Powers Act.
- Donald Trump referred to the tariff refund situation as "crazy" and stated he would fight it.