Overview
- Costco filed a Nov. 28 complaint in the U.S. Court of International Trade seeking to invalidate IEEPA-based tariffs and obtain a full refund of duties paid.
- The retailer says Customs denied its requests to extend liquidation deadlines, with some entries set to liquidate as early as Dec. 15, so it is asking the court to halt liquidation and further collections.
- Dozens of other importers have brought similar protective suits, including EssilorLuxottica, Kawasaki Motors, Revlon, Yokohama Tire and Bumble Bee Foods, and Costco has moved to consolidate related cases.
- Lower courts have already ruled the IEEPA tariffs unlawful, the Supreme Court heard expedited arguments on Nov. 5 with justices expressing skepticism, and a ruling has not yet been issued.
- Treasury warned of potentially enormous refund exposure in filings to the Supreme Court, Costco did not disclose its tariff outlays, and it has adjusted sourcing and suppliers to blunt tariff impacts.