- The US Supreme Court invalidated tariffs imposed under emergency powers, requiring refunds for duties collected under the IEEPA regime.
- US Customs is upgrading systems to process refund claims, but businesses must act quickly to avoid missing out.
- President Trump immediately imposed a new 10% global tariff under Section 122, affecting Australian exporters despite the Australia-US FTA.
- The rapid policy changes create both refund opportunities and new compliance risks for businesses.
- Companies are advised to reassess supply chains and act quickly to secure refunds and adapt to the new tariff landscape.
Source: bdo.global
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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