"The court's decision was limited to two importers who challenged the tariffs, along with the state of Washington. It was not immediately clear whether other importers would have to keep paying the levies. "That's a very good question and one we've sort of been wrestling with," said Jeffrey Schwab, who represented the importers on behalf of the Liberty Justice Center. "It's not entirely clear and probably will depend on what happens now.""
"After the Supreme Court ruled in February that President Trump had exceeded his authority in ordering double-digit tariffs on virtually everything the U.S. imports, Trump sought to replace the import taxes using a different law. But that law only authorizes tariffs in response to large and persistent balance-of-payments deficits. The trade court ruled that condition does not currently exist, so the replacement tariffs are not warranted."
"A balance-of-payments deficit is distinct from a trade deficit, something the administration itself acknowledged earlier in court. The new tariffs were time limited in any case, and set to expire in July. The administration continues to explore other options to impose tariffs using different statutes. The initial, emergency tariffs cost importers tens of billions of dollars; The government now plans to refund more than $166 billion, with the first payments expected next week."
"Jay Foreman, whose Basic Fun! company imports toys such as Lincoln Logs and Tonka Trucks, expects to collect some $7 million in refunds for the earlier tariffs. His company is one of the two that successfully challenged the"
A court invalidated a second round of worldwide tariffs ordered to replace import levies that were ruled unlawful. The ruling applied to two importers that challenged the tariffs and to the state of Washington. The scope for other importers was uncertain and depended on what happens next. The Supreme Court had previously found that the president exceeded authority by imposing double-digit tariffs on nearly all imports. The administration attempted to use a different law that allows tariffs only in response to large and persistent balance-of-payments deficits. The court found that condition was not present, so the replacement tariffs were not justified. The tariffs were set to expire in July, and the government planned refunds exceeding $166 billion, with initial payments expected soon.
Read at www.npr.org
Unable to calculate read time
Collection
[
|
...
]