Hundreds of companies file lawsuits demanding refunds for payments made on U.S. government "overreaching" tariffs

Gelonghui, February 22｜According to CCTV, after the US Supreme Court ruled that the Trump administration's large-scale tariff measures were illegal, hundreds of companies, including major retailer Costco, have filed lawsuits demanding refunds for payments made under the US government's tariff policy, which was deemed "overreaching" by the Supreme Court. According to data from the US Customs and Border Protection in December last year, tariffs imposed under the International Emergency Economic Powers Act have accumulated to about $130 billions. An estimate by the University of Pennsylvania suggests that this total may now exceed $175 billions. Some economists have stated that the process for companies to apply for refunds of paid tariffs is still unclear, but US companies eligible for refunds are not the only group bearing the burden of these tariffs.