US Supreme Court strikes down Trump's tariffs. Thousands of companies are fighting for refunds
In its ruling, the Supreme Court found that President Donald Trump had no right use the International Emergency Economic Powers Act of 1977 to impose wide-ranging tariffs on imported goods.
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For many months, companies had to adapt to the changing trade policy of the White House, which used tariffs not only to resolve economic disputes, but also as a tool of political pressure on other countries.
Economists from the Penn-Wharton Budget Model, quoted by Reuters, estimate that The refund may amount to over USD 175 billion. US customs duties. Now thousands of companies, not just those that sued the government, must decide whether to seek a refund of those funds.
Growing markets and company responses
After the verdict was announced, American and European stock exchanges recorded increases, especially among companies that were subject to tariffs. These included brands such as LVMH, Hermes and Moncler.
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Michael Wieder, co-founder of Lalo, a company producing high-quality children's products, admitted that his company plans to apply for a refund of approximately USD 2 million, but he expects the procedure to be lengthy.
Most affected by tariffs bThere were companies in the consumer goods, automotive, manufacturing and apparel industries that rely heavily on low-cost production in Asia.. The tariffs introduced by Donald Trump have significantly increased the costs of importing both finished products and components, which has translated into lower margins and disruptions in global supply chains.
From April last year to The U.S. Court of International Trade has received more than 1,800 tariff-related lawsuits. For comparison, in all of 2024, there were only twenty-four such cases.
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Among the main reasons, as reported by Reuters: included subsidiaries of the Japanese Toyota Group, American retailer Costco, tire manufacturer Goodyear Tire & Rubber, aluminum company Alcoa, Japanese motorcycle manufacturer Kawasaki Motors and French eyewear giant EssilorLuxottica.
The impact of tariffs on consumers
High tariffs introduced by the Donald Trump administration have translated into higher costs for American consumers, who were already feeling the effects of inflation following the COVID-19 pandemic.
The Federal Reserve Bank of New York reported that as many as 90 percent tariffs are borne by American consumers and companies, which undermines the White House's argument that these fees are paid by foreign producers.
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According to the Yale Budget Lab, in November, the effective tariff rate in the US was 11.7%, while the average for 2022-2024 is 2.7%.
