The retail industry on Friday said the Supreme Court’s ruling that struck down some of President Donald Trump’s global tariffs would usher in more predictability and flexibility for innovation, freeing up businesses from the burden of higher import costs.
“The Supreme Court’s announcement today regarding tariffs provides much-needed certainty for U.S. businesses and manufacturers, enabling global supply chains to operate without ambiguity,” the National Retail Federation said in a statement following the ruling. “Clear and consistent trade policy is essential for economic growth, creating jobs and opportunities for American families.”
The nation’s highest court determined that Trump’s broad tariff rates on U.S. trade partners enacted under the International Emergency Economic Powers Act, or IEEPA, overstepped the president’s authority. The Supreme Court is sending the case back to the lower court with instructions to dismiss it for lack of jurisdiction.
The reversal raises considerable questions about the pathway to refund tariffs that have already been paid, and whether Trump will seek to enact different trade controls.
“We urge the lower court to ensure a seamless process to refund the tariffs to U.S. importers,” the NRF said in its statement. “The refunds will serve as an economic boost and allow companies to reinvest in their operations, their employees and their customers.”
