1,800 Firms Sue for $130 Billion After US Supreme Court Strikes Down Trump Tariffs

• Over 1,800 companies, including Costco and FedEx, are suing to recover $130 billion in tariffs collected under President Trump's invalidated policies.
• The US Supreme Court struck down Trump's global tariffs, prompting a wave of lawsuits from businesses seeking refunds for duties paid over 10 months.
• The Court of International Trade (CIT) faces the challenge of resolving thousands of cases, a scale unprecedented in its history.
• The Trump administration, through Treasury Secretary Scott Bessent, stated it would follow lower courts' directions on refunds, despite Trump's criticism of the ruling.
• While major firms can litigate, smaller businesses struggle with legal costs, hoping Customs will issue refunds directly; a broader refund mechanism by CIT is possible.