A US federal judge has ruled that businesses must receive refunds for tariffs imposed under the International Emergency Economic Powers Act (IEEPA) after the US Supreme Court struck down the levies last month. The Court of International Trade directed Customs and Border Protection to return duties collected from affected importers, potentially covering billions of dollars paid by companies across the country. While the refund process remains unclear, the ruling is a setback for the Trump administration, which had collected about $130 billion through the tariffs and is now considering introducing a new global tariff of around 15% to replace them.
