Summary
FedEx plans to give refunds to its customers if it wins a lawsuit seeking repayment from the government for tariffs imposed under President Donald Trump's powers, which the Supreme Court recently invalidated. Various companies, including FedEx, have filed lawsuits to recover these tariffs, and the process may take a long time as it goes through the court system.
Key Facts
- The Supreme Court ruled that President Trump overstepped his powers by imposing certain global tariffs.
- FedEx has filed a lawsuit to get a refund for tariffs it paid, and it plans to pass this refund to customers if successful.
- An estimated $175 billion in tariffs might have been collected unlawfully, leading many companies to seek refunds.
- FedEx's lawsuit lists U.S. Customs and Border Protection as the defendant.
- Several other companies have also filed lawsuits seeking refunds for the tariffs.
- The process of refunding could be lengthy, as decisions are expected from lower courts in the future.
- The U.S. Treasury has acknowledged its obligation to refund any unlawfully collected tariffs with interest.
- Senate Democrats have proposed a bill to ensure small businesses get refunded for these tariffs.
