THE FACT THAT? L’Oréal has filed a lawsuit with the US Court of International Trade seeking refunds for tariffs paid under former President Donald Trump’s emergency trade measures, following a Supreme Court ruling that found the tariffs were illegal.
THE DETAILS The case was brought by L’Oréal Travel Retail Americas, the division responsible for selling beauty products in the duty-free and travel retail channels. The filing comes days after the US Supreme Court ruled, by a vote of 6 to 3, that Trump exceeded his authority by using the International Emergency Economic Powers Act (IEEPA) to impose tariffs on imported goods.
In its complaint, L’Oréal claimed that it acted as an importer of record for goods subject to IEEPA tariffs, but did not disclose the amount it seeks to recover. The lawsuit names as defendants the United States Customs and Border Protection (CBP), its commissioner Rodney Scott and the United States of America. The broader refund process, which could cover up to $175 billion in tariff collections, still needs to be determined by lower courts and could take months or years to resolve.
THE WHY? The legal action aims to recover tariff payments deemed to have been collected illegally after the Supreme Court invalidated the legal basis for the trade measures, as companies seek to recover potentially significant sums.
Fountain: Reuters
