Supreme Court Limits Presidential Tariff Power Under IEEPA, Opening Door to $166 Billion in Refunds

U.S. Supreme Court struck down the tariffs imposed by the administration of President Donald Trump under the International Emergency Economic Powers Act. U.S. Customs and Border Protection has started processing refund claims for the $166 billion that are potentially on the table.

A USA TODAY analysis reviewed more than 630 Securities and Exchange Commission filings that referenced the Supreme Court's ruling. At least 90 publicly traded companies have disclosed plans to seek IEEPA tariff refunds. 3 billion.

General Motors is seeking a refund of $500 million. UPS stated on its website that it will disburse refunds 60-90 days after receiving the funds from CBP. Cardinal Health paid about $200 million in tariffs.

Cardinal Health stated in its SEC filings that it will return to customers any portion of the refund tied to price increases it passed through during the tariff period. FedEx is expecting to make a recovery of IEEPA tariff payments and plans to pass money on to customers.

U.S. Government issues IEEPA tariff refunds to FedEx, the company is fully committed to refunding any applicable duties including the interest received from Customs and Border Protection. President Trump floated the idea that revenue from these tariffs could be used to send $2,000 checks to Americans.

Walmart’s executive vice president and chief financial officer John David Rainey said on a May earnings call that the company would invest the refund in lowering its prices.

U.S. annual sales. 42 billion. The Home Depot has begun receiving IEEPA tariff refunds.

Sarah McDonald stated that in May the company started to receive a non-material amount of refunds and could receive more this quarter, and that those refunds will be used to offset costs from incremental tariffs and other cost pressures. An April Federal Reserve study showed that sweeping tariffs kept prices elevated for core goods.

President Trump appeared on CNBC's Squawk Box in April and said it was brilliant if companies chose not to apply for refunds and that if they don't do that he'll remember them.

U.S. Customs and Border Protection launched a tariff refund portal on April 20. U.S. Customs and Border Protection has processed over 15 million entries as of May 22 and accepted processing claims worth $85 billion.

Apple said in its May filings it is seeking refunds. 3 billion in tariffs during the second Trump administration. 7 million.

6 million. 4 million in refund rights to a lender.

U.S. Government to reimburse companies for IEEPA tariffs.