Guidance and Action Plan Regarding IEEPA Tariff Refunds (5/7/26)
TL;DR 👉 Court of International Trade – CIT, ruled today that the Administration exceeded the authority granted under Section 122 of the Trade Act of 1974 because the government failed to demonstrate the kind of “balance of payments” emergency the statute requires. Estimates suggest the Section 122 tariffs were expected to generate anywhere from $30-50 billion during the 150-day term they can be used. We are expecting a government appeal and eventual argument in front of SCOTUS.
Needless to say, this adds more uncertainty and complexity to an already-stressed global trade environment. We will continue to keep you posted on developments in this case and on all relevant issues regarding international trade.
You can view the integral version of the verdict here.
As always, Logistics Plus is here to support you through this process.
