The Tariff-Refund Process Could Start Next Week
But that will change if the Trump administration decides to file an appeal.
Good morning!
Here are today’s highlights:
Is your idea for a new business or product any good? Claude can help you get an answer.
So far at least, the housing market is not getting its usual spring bump.
You’ve heard about PE chasing veterinary practices, dental practices, and home-service businesses? Now there’s a new target.
At what stage does a small business need an HR department?
THE TRADE WARS
The tariff-refund process could begin next week: “The Trump administration is expected to start accepting claims next week for refunds from the tariffs President Trump collected illegally. In an order Tuesday, Judge Richard Eaton of the Manhattan-based Court of International Trade said the government confirmed in a closed conference earlier in the day that it is on track to begin processing claims for refunds with interest on April 20 for some importers. The refund claims that the government said it can start accepting amount to about $127 billion of the $166 billion the government collected in tariffs that were invalidated by the Supreme Court in February, Eaton said.”
“More than 3,000 lawsuits have been filed at the trade court by companies seeking a refund. The Supreme Court left it to the trade court to figure out if and how importers would get their money back after it said Trump lacked authority to issue the tariffs under the International Emergency Economic Powers Act.”
“The refund process was initially expected to be hashed out in a case filed by Atmus Filtration Technologies until the Nashville, Tenn., company last week voluntarily dismissed its claim for an $11 million refund. The company decided it no longer wanted to be the public face of the massive scramble for repayments, according to people familiar with their discussions.”
“Eaton quickly selected a substitute case and reissued his March order. The needle he appeared to pluck from the haystack this time, a lawsuit brought by Euro-notions Florida, happens to import sewing needles. In reissuing his order, however, Eaton appears to reset the 60-day clock for the government to file an appeal. Trade lawyers following the litigation expect the government may still choose to do that.” READ MORE
