U.S. to stop collecting Trump-era tariffs from February 24
Economy
The U.S. Customs and Border Protection will stop collecting tariffs introduced by the administration of Donald Trump under the International Emergency Economic Powers Act (IEEPA) starting February 24.
The decision followed the ruling of the Supreme Court of the United States, which declared such tariffs unlawful.
According to the agency’s message for cargo operators in the Cargo Systems Messaging Service, all tariff codes related to Trump’s previous IEEPA orders will be deactivated from Tuesday.
The customs service did not explain why tariffs continued to be collected at border checkpoints for several days after the Supreme Court ruled that the president lacked authority to impose them.
On February 20, the Supreme Court ruled that presidential powers under the IEEPA were insufficient to impose tariffs unilaterally. The decision was supported by six justices against three.
Trump called the ruling a “disgrace” and claimed the court was under “foreign influence”. Hours later, he announced new tariffs of 10% on all imports under Section 122 of the Trade Act of 1974, later increasing them to 15%.
According to the Financial Times, U.S. corporations may seek compensation for losses estimated at about $133.5 billion. Reuters reported that more than $175 billion in tariff revenues collected by the U.S. Treasury could potentially be subject to refunds. The Supreme Court did not provide clear guidance regarding reimbursement of already paid tariffs.
According to the agency’s message for cargo operators in the Cargo Systems Messaging Service, all tariff codes related to Trump’s previous IEEPA orders will be deactivated from Tuesday.
The customs service did not explain why tariffs continued to be collected at border checkpoints for several days after the Supreme Court ruled that the president lacked authority to impose them.
On February 20, the Supreme Court ruled that presidential powers under the IEEPA were insufficient to impose tariffs unilaterally. The decision was supported by six justices against three.
Trump called the ruling a “disgrace” and claimed the court was under “foreign influence”. Hours later, he announced new tariffs of 10% on all imports under Section 122 of the Trade Act of 1974, later increasing them to 15%.
According to the Financial Times, U.S. corporations may seek compensation for losses estimated at about $133.5 billion. Reuters reported that more than $175 billion in tariff revenues collected by the U.S. Treasury could potentially be subject to refunds. The Supreme Court did not provide clear guidance regarding reimbursement of already paid tariffs.
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