- The US Supreme Court ruled that the President cannot use the IEEPA to impose customs duties; this power belongs to Congress unless clearly delegated.
- This decision restricts the use of IEEPA for imposing tariffs and allows businesses to challenge or overturn duties imposed on an improper legal basis.
- Over $175 billion in tariff revenue may be subject to refund claims, creating significant opportunities for importers.
- The US government can still impose tariffs using other legal tools, such as Section 122 of the Trade Act of 1974.
- Businesses must enhance customs compliance and closely monitor regulatory changes due to ongoing tariff risks.
Source: asd-int.com
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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