A federal court dealt another blow to President Donald Trump's trade policies, ruling illegal the 10% tariff he imposed to replace taxes previously struck down by the Supreme Court. However, consumer prices are still unlikely to decline as long as the war with Iran continues. Nevertheless, the administration…
A refund system for companies that paid duties the U.S. Supreme Court ruled imposed by President Donald Trump without constitutional authority is expected to launch on April 20, the Associated Press reports. Importers and their brokers will be able to begin filing refund requests through an online portal…
U.S. Customs and Border Protection (CBP) informed the Court of International Trade that it would be unable to promptly process duty refund applications for the remaining third of the declarations. The agency did not specify a timeline for the next stages of refunds, RAWSTORY reports. According to case materials presented in…
Global shipping and mail company FedEx has filed a lawsuit demanding a full refund of Donald Trump's emergency tariffs. This follows the US Supreme Court ruling that the new import taxes were illegal, according to the BBC. The US president imposed increased tariffs on imports from…
Costco Wholesale has filed a lawsuit against the Trump administration in the U.S. Court of International Trade. The company is seeking to invalidate all tariffs collected under the International Emergency Economic Powers Act (IEEPA), NBC News reports. In the filing, filed on November 28, the company is demanding…
On November 9, President Trump announced that most Americans would receive "at least" $2000 in trade tariff revenue collected by the Trump administration, The Hill reports. Trump's announcement, made early on the morning of November 9 on his platform, Truth Social, came after White...
This week, Beijing shattered the fragile trade truce with Washington by announcing comprehensive export restrictions on products containing even traces of Chinese rare earth elements, Politico reports. An enraged President Donald Trump threatened to retaliate with 100% tariffs and new export restrictions on critical…
On September 29, President Donald Trump announced in a post on the Truth Social platform that he intends to impose a 100% tariff on "any films produced outside the United States," according to CNN. Trump did not specify when or how this tariff would be implemented. If…
President Donald Trump's tariffs are already reshaping global trade and boosting government revenues. But they could push even more Americans into poverty, according to new research. CNN explains why. Analysis,…
President Donald Trump's tariffs took effect Aug. 7, paving the way for a turmoil in global trade and new costs for American businesses and consumers. But they could also generate significant revenue, administration officials say, The Washington Post reports…