From tariffs to torts: Court ruling sparks mass litigation over billions in duties

The Supreme Court’s decision striking down many of former President Donald Trump’s global tariffs has triggered a legal scramble among U.S. businesses seeking refunds on at least $130 billion in duties collected during the 10 months the levies were in effect, The Wall Street Journal writes. 

More than 1,800 companies, including major national brands, have filed lawsuits in the U.S. Court of International Trade, with more expected as attorneys compare the wave of filings to mass tort litigation. The administration has sent mixed signals on how quickly refunds might be issued, and some officials have suggested the fight could stretch on for years.

For companies, the stakes are significant: potential cash recoveries, interest payments and balance sheet adjustments that could ripple through earnings. 

Yet smaller importers face legal costs that may deter them from filing, raising questions about who ultimately benefits from the ruling and how quickly relief will arrive.

The Wall Street Journal has the full story.