WASHINGTON — U.S. Commerce Consultant Jamieson Greer indicated Thursday that ought to the Supreme Courtroom rule in opposition to President Donald Trump’s “reciprocal” tariffs, his administration could should difficulty tariff refunds that would exceed $100 billion in complete.
Greer mentioned the problem throughout an interview with Fox Information, a day after the Supreme Courtroom held an oral listening to on the legality of Trump’s use of the Worldwide Emergency Financial Powers Act (IEEPA) to impose tariffs on America’s buying and selling companions, together with South Korea.
Throughout the oral arguments, some conservative and liberal justices on the prime courtroom confirmed skepticism over Trump’s declare of the tariff authority, fueling hypothesis that companies may obtain refunds ought to his IEEPA tariffs be overruled.
“So the reciprocal tariffs that have been at difficulty yesterday … I haven’t got the precise quantity, however it’s over $100 billion, however I feel it may be lower than 200 billion or thereabouts,” Greer stated.
“The courtroom itself signaled that … what do you do within the case that the tariffs are overruled … what do you do with that cash. I imply in some instances, particular plaintiffs will get a refund,” he added.
He famous that if the courtroom guidelines in opposition to the federal government, it must work out a refund schedule and decide the rights of the events concerned.
Who could be eligible for a refund was one of many points mentioned throughout Wednesday’s listening to.
Justice Amy Coney Barrett, a justice appointed by Trump, identified that difficulty, reportedly saying that it could be “a multitude” if the Trump administration needed to pay the cash again.
In late August, a federal appeals courtroom dominated that the IEEPA, which Trump invoked to roll out reciprocal tariffs, doesn’t truly grant him the authority to levy the across-the-board duties.
U.S. corporations have paid practically $90 billion for the IEEPA tariffs as of Sept. 23, CNN reported, citing knowledge from U.S. Customs and Border Safety.
Trump has used tariffs as a key coverage instrument to scale back America’s commerce deficits, improve federal income, usher in overseas investments and bolster home manufacturing. He has regarded the persistent U.S. commerce deficits as a nationwide emergency.
