Thousands of businesses could be set to receive refunds over tariffs the US Supreme Court struck down last month.
The US Court of International Trade has ordered Customs and Border Protection to issue refunds for the levies Donald Trump imposed last year using the International Emergency Economic Powers Act (IEEPA), the BBC reports.
Judge Richard Eaton stated in his ruling: "All importers of record whose entries were subject to IEEPA duties are entitled to the benefit" from the high court's ruling."
Details of the refund process are still unclear.
While the ruling relates to a specific case brought by a filtration company in Tennessee, Atmus Filtration, it creates a precedent and Judge Richard Eaton said he will be the only one to deal with cases relating to refunds.
It's estimated the Trump administration brought in around £97billion from tariffs imposed on imports through IEEPA, but a string of companies including FedEx have filed lawsuits seeking full refunds.
US Treasury Secretary Scott Bessent said a new 15% global tariff is "likely" to be introduced this week to replace the IEEPA levies blocked by the Supreme Court.
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