Tag

Importers

All articles tagged with #importers

business1 month ago•3 min saved

Shoppers may get tariff refunds as Costco faces class-action over pricing

A proposed Illinois class-action alleges Costco unjustly profited from tariffs by raising prices and seeks refunds for shoppers from potential tariff reimbursements owed after the Supreme Court voided Trump-era tariffs. The case reflects the broader, uncertain process to distribute roughly $166 billion in tariff refunds, with the government saying refunds will take time and many importers could be eligible. Costco has not commented, while FedEx and others have pledged to return charged tariffs if refunds materialize.

via BBC|

#business #class-action #costco

business1 month ago•33 min saved

Refunds blocked on tariffs after Supreme Court ruling, FT reports

The Financial Times reports the U.S. government has declined to refund tariffs deemed illegal by the Supreme Court, leaving importers’ refund requests in limbo as customs officials deny or suspend repayments. The government has collected more than $130 billion in these duties, while a trade-court order to begin refunds has yet to be implemented amid unclear guidelines and no immediate comment from the White House or CBP.

via Reuters|

#business #importers #refunds

business1 month ago•14 min saved

Judge orders tariff refunds after Supreme Court overturns Trump-era tariffs

A U.S. judge ruled that companies are eligible to receive refunds of tariffs imposed during the Trump administration after the Supreme Court overturned those tariffs, a decision that could unlock billions in claims as importers seek repayment.

via AP News|

#business #importers #refunds

politics1 month ago•18 min saved

Supreme Court strikes down Trump tariffs, refunds loom

The Supreme Court has struck down the Trump-era tariffs, setting the stage for refunds to importers. The ruling kicks off a complex, multi-agency process to determine eligibility, calculate amounts, and issue refunds, with businesses and the government awaiting detailed procedures and timelines.

via Associated Press News|

#importers #politics #refunds

business1 month ago•2 min saved

Trump Adviser Calls NY Fed Tariff Study Embarrassing, Urges Authors Be Disciplined

Trump economic adviser Kevin Hassett called a New York Fed tariff study "embarrassing" and urged the authors be disciplined after the research found U.S. importers bore about 90% of tariff costs, a result that contradicts the White House narrative; some economists say the findings align with standard analysis, while the NY Fed remains independent.

via Axios|

#business #importers #kevin-hassett

business5 months ago•4 min saved

Recent Developments in Tariffs, Supreme Court Cases, and Corporate News

The likelihood of tariff refunds for businesses has increased after the Supreme Court questioned the Trump administration's tariffs, raising questions about eligibility and the complex process of refunds, which could involve delays, appeals, and potential involvement of investment banks offering quick cash at a discount. The outcome remains uncertain, with potential for a significant impact on businesses and government revenue.

via CNN|

#business #importers #refunds

business7 months ago•3 min saved

Trump's Tariff Lawsuit Could Lead to Over $200 Billion Refunds for U.S. Businesses

A federal appeals court ruled that President Trump overstepped his authority in imposing tariffs, potentially leading to a $150 billion refund for American businesses that paid these tariffs, though the process to recover the money may involve significant bureaucracy and legal challenges. The case could be escalated to the Supreme Court, which might influence whether refunds are automatic or require additional legal action.

via Fortune|

#business #court-ruling #importers

business8 months ago•6 min saved

Trump's Tariffs Shift Focus to Transshipped Goods and Southeast Asia

The Trump administration has introduced a new, complex tariff system targeting goods that are transshipped through multiple countries, especially from China, with unclear rules causing confusion among importers and supply chain professionals about how these tariffs will be enforced and applied, potentially impacting global supply chains and costs.

via The New York Times|

#business #china #importers

business8 months ago•5 min saved

US Tariffs: Impact on Prices and Business Preparations

As the US trade deadline approaches, importers and customs brokers are anxiously awaiting detailed guidance on new tariffs announced by President Trump, facing complex regulatory changes, software updates, and uncertainty about enforcement, which could impact global trade flows and compliance costs.

via Bloomberg|

#business #customs-regulations #importers

business10 months ago•4 min saved

Small Businesses Feel the Pinch from Trump’s Tariffs

Some US importers affected by Trump's tariffs are seeking refunds, arguing they were unfairly charged higher rates during a trade dispute with China, with legal and political efforts ongoing to potentially recover these costs, though success is uncertain.

via WIRED|

#business #importers #refunds

business-trade2 years ago•0 min saved

Red Sea Diversions and Security Fears Drive Up Shipping Costs

Western importers are facing significant increases in ocean-shipping rates and delays as carriers divert ships from the Red Sea to avoid Houthi rebel attacks in Yemen. This has led to rising prices and extra fees for routing containerships on longer voyages around the Horn of Africa, causing frustration among companies shipping goods on this crucial trade lane.

via The Wall Street Journal|

#business-trade #delays #houthi-rebels

trade2 years ago•2 min saved

"Indian Rice Exports Hit by Postponed Shipments and Imposed Curbs"

India's imposition of a 20% duty on parboiled rice exports has led to the postponement of around 500,000 metric tons of shipments until after mid-October, as buyers and sellers seek to avoid paying the tax. This delay could deplete inventories in importers such as Benin, Ghana, Côte d'Ivoire, and Liberia, and drive up local prices in those countries, which are already at multi-year highs. Indian exporters have raised prices to a record level of $520 to $540 per metric ton, up nearly 40% from last year. Other major rice producers have also raised prices, leaving African buyers to opt for delaying shipments and waiting for price corrections.

via Reuters India|

#duty #importers #india