FedEX sues US govt for full refund of Trump tariffs

(Sharecast News) - Global courier giant FedEx is suing the US government for a "full refund" of President Donald Trump's emergency tariffs after they were ruled illegal by the Supreme Court last week. The firm is the first to seek reimbursement since the ruling, although its lawsuit did not specify how much it wanted refunded. Trump introduced increased tariffs on global imports last April under the International Emergency Economic Powers Act (IEEPA).

"Plaintiffs seek for themselves a full refund from Defendants of all IEEPA duties Plaintiffs have paid to the United States," FedEx said in its lawsuit, naming US Customs and Border Protection (CBP), the agency's commissioner Rodney Scott and the US as defendants.

It said in its filing with the US Court of International Trade that it had been responsible for paying the tariffs and was seeking redress.

"While the supreme court did not address the issue of refunds, FedEx has taken necessary action to protect the company's rights as an importer of record to seek duty refunds from US Customs and Border Protection," FedEx said in a written statement.

While the court ruled that the IEEPA tariffs were illegal, it did not offer guidance on returning the money to those who had paid the taxes. In a 6-3 ruling last Friday, it said that Congress retained the sole authority to levy taxes.

Other companies have preemptively filed suits including retail warehouse giant Costco, cosmetics maker Revlon and aluminium producer giant Alcoa.

Reporting by Frank Prenesti for Sharecast.com