Summary
FedEx is suing the U.S. government to get back money it paid in tariffs. The Supreme Court recently ruled that President Trump did not have the authority to impose these tariffs, meaning only Congress can do that during peacetime. FedEx and other companies are now looking for refunds, but there is no clear process in place yet.
Key Facts
- FedEx filed a lawsuit against the U.S. government for tariff refunds after a Supreme Court ruling.
- The Supreme Court said President Trump overstepped his power by imposing tariffs using the International Emergency Powers Act (IEEPA).
- FedEx wants a full refund of the tariffs, which it claims caused the company financial harm.
- The tariffs affected goods, including small packages valued under $800.
- Experts say it might take a long time to sort out the refund process.
- President Trump plans to introduce a new 15 percent “global tariff.”
- The U.S. collected an estimated $142 billion to $175 billion in tariffs under IEEPA.
- The Supreme Court ruling did not specify how and when refunds should be given.
