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The Supreme Court is expected to rule soon on the legality of President Trump’s “reciprocal” tariffs— a decision that could carry major economic and security implications. The administration warns that overturning them could be costly, leaving businesses awaiting the Court’s next move.
Over 100 companies — including Costco, Oakley, and Revlon — have joined in federal lawsuits to obtain refunds of International Emergency Economic Powers Act (IEEPA) tariffs, claiming that their refund options could be in jeopardy.
Multinational retail giant Costco has sued the US government to secure a full refund of import duties if the Supreme Court rejects President Donald Trump's authority to impose tariffs without congressional approval.
The Supreme Court on Wednesday seemed skeptical of President Donald Trump’s authority to impose sweeping tariffs in a series of executive orders earlier this year.