FedEx seeks refund for illegal IEEPA tariffs imposed by Trump

Global transportation company FedEx (FDX.N) has filed a lawsuit in the US Court of International Trade seeking a refund for President Donald Trump’s emergency tariffs, one of the highest profile moves to recover funds since the US Supreme Court last week deemed the tariffs illegal.
A flood of lawsuits to recover billions of dollars is expected by trade attorneys after the blockbuster ruling. The recovery process still has to be worked out by a lower court, though, complicating the matter.
More than $175 billion in US tariff collections are subject to potential refunds after the US Supreme Court on Friday ruled 6-3 that Trump overstepped his authority by using the International Emergency Economic Powers Act, a sanctions law, to impose tariffs on imported goods, Penn-Wharton Budget Model economists said.
“Plaintiffs seek for themselves a full refund from Defendants of all IEEPA duties Plaintiffs have paid to the United States,” FedEx said in the lawsuit, referring to tariffs Trump imposed.
FedEx and its logistics arm served as the importer of record on goods subject to IEEPA tariffs. The Memphis-based company did not provide the dollar value of the refund it is seeking.
FedEx, in its lawsuit, named US Customs and Border Protection, the agency’s commissioner, Rodney Scott and the United States of America as defendants. CBP and the White House did not immediately respond to requests for comment.
www.sabcnews.com, https://www.sabcnews.com/sabcnews/fedex-seeks-refund-for-illegal-ieepa-tariffs-imposed-by-trump/