Summary
FedEx has filed a lawsuit to get back money it paid in extra import taxes due to tariffs introduced by President Trump. The U.S. Supreme Court ruled that the law used to impose these tariffs did not permit the president to impose such taxes. As a result, companies like FedEx are seeking refunds for the duties they have paid.
Key Facts
- FedEx is suing for a refund of import duties paid under President Trump's tariffs.
- President Trump imposed higher tariffs under the International Emergency Economic Powers Act (IEEPA).
- The U.S. Supreme Court ruled that this law does not allow the president to impose these tariffs.
- FedEx's lawsuit seeks a refund from U.S. Customs and Border Protection (CBP) and its commissioner.
- The company did not specify the refund amount it seeks.
- FedEx filed the lawsuit with the U.S. Court of International Trade.
- The tariffs have reportedly brought in an additional $130 billion.
- President Trump and Treasury Secretary Scott Bessent said resolving the refund issue might take years in court.
