The Business Times
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Bosses should not hold their breath for a Trump tariff refund

The process will be slow and politically fraught

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Published Wed, Feb 25, 2026 · 06:34 PM
    • Over the past year, companies such as Costco had filed suits at the Court of International Trade to protect their right to a refund, should the US Supreme Court overturn President Trump’s tariffs.
    • Over the past year, companies such as Costco had filed suits at the Court of International Trade to protect their right to a refund, should the US Supreme Court overturn President Trump’s tariffs. PHOTO: REUTERS

    FOR businesses, the world over the past year has been marked by the ever-changing threat of US President Donald Trump’s tariffs. On Feb 20, the ground moved yet again – this time in their favour.

    The US Supreme Court struck down the import duties imposed under the International Emergency Economic Powers Act (IEEPA), including Trump’s “reciprocal” tariffs as well as the levies slapped on Canada, China and Mexico, for allegedly aiding the smuggling of fentanyl into the US.

    Now, businesses want their money back.

    Trump tariffs

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