Overview
- The Court could issue its decision today on whether the International Emergency Economic Powers Act authorizes the tariffs, after justices signaled skepticism during November arguments.
- Tariff collections totaled about $133.5 billion through mid-December and are estimated to be approaching $150 billion, heightening the stakes for potential repayments.
- U.S. Customs and Border Protection says refunds will be distributed electronically through the ACE portal starting February 6, indicating administrative readiness.
- Refunds are not automatic, with companies such as Costco and Bumble Bee filing protective lawsuits and a 314‑day liquidation rule likely to block recovery on some early 2025 entries.
- Some smaller firms are selling claims to investors at steep discounts, including Kids2 reporting 23 cents on the dollar for reciprocal tariffs and 9 cents for fentanyl‑related duties, while Treasury Secretary Scott Bessent warns a ruling could curb presidential tariff flexibility.