Tariff refund delays could cost U.S. $700 million a month in interest
The U.S. government must also reimburse businesses for the interest they paid on tariffs recently struck down by the Supreme Court, according to the Cato Institute.
Watch CBS News
The U.S. government must also reimburse businesses for the interest they paid on tariffs recently struck down by the Supreme Court, according to the Cato Institute.
The Supreme Court ruled last month at President Trump did not have the authority to issue his sweeping tariffs under a federal emergency powers law.
FedEx sued the Trump administration over its tariffs on Monday, asking for a "full refund" of all payments it made to the government under a set of tariff policies that were ruled illegal by the Supreme Court.
The Trump administration is unlikely to back down from pursuing additional tariffs following the Supreme Court decision, according to trade experts.
Businesses could be owed nearly $150 billion in refunds after the Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act.
While the Supreme Court struck down the Trump administration's emergency tariffs, experts said it could take years for businesses to get refunds.
President Trump signed an order that will impose 10% tariffs on imports from all countries, just hours after the Supreme Court struck down a different set of sweeping global tariffs.
The Supreme Court on Friday ruled President Trump does not have the authority to unilaterally impose sweeping tariffs under a federal emergency powers law.
A Canadian airline suspends flights to Cuba as U.S sanctions and Trump's tariff threats force Havana to warn carriers there's no way to refuel on the island.
Taming runaway U.S. beef prices will require more than stepping up imports, economists said. Here's the key to cutting costs.
President Trump on Thursday signed an executive order that would impose a tariff on any goods from countries that sell or provide oil to Cuba.
Steep U.S. import duties targeting 13 Italian pasta makers will be sharply reduced, Italy's foreign ministry said on Jan. 1.
The U.S. Trade Representative said tariffs on Chinese semiconductors, now at zero, are set to increase in June 2027.
Economic growth blew past forecasts in the third quarter despite ongoing concerns about jobs, tariffs and inflation.
The main distillery will be closed for site enhancements, the company said. The pause comes after whiskey production has dropped amid a challenging year.
Some small business owners say they're struggling to stay afloat because of higher tariff, health insurance and energy costs.
President Trump suggested Americans won't have to pay personal income taxes "in the not-too-distant future" because of rising U.S. tariffs.
The price of imported plastic Christmas trees is up, the majority of which are made in Asia and subject to tariffs introduced by President Trump earlier this year.
The price of imported plastic Christmas trees is up, the majority of which are made in Asia and subject to tariffs introduced by President Trump earlier this year.
Brazil's federal police arrested former President Jair Bolsonaro, who was convicted of leading a coup attempt.
President Trump is expanding the list of foods imported from Brazil that will not be subject to levies.
President Trump floated the idea of tapping his administration's tariff revenue to send checks to most Americans.
President Trump exempted foods like beef and bananas from his sweeping country-by-country tariffs on Friday.
The Trump administration is considering a new import duty on 13 of Italy's largest pasta exporters, including Barilla and La Molisana.
The Supreme Court heard arguments Wednesday over whether a federal emergency powers law authorizes President Trump's most sweeping tariffs.
Google is accused in a wrongful death lawsuit filed by the family of a man who committed suicide in October, allegedly at the direction of the tech giant's AI chatbot, Gemini.
The U.S. government must also reimburse businesses for the interest they paid on tariffs recently struck down by the Supreme Court, according to the Cato Institute.
Todd Meadows, a crewmember on the reality TV show "Deadliest Catch," died after he was reported to have fallen overboard, the Coast Guard said.
The fallen soldiers identified by the Pentagon were Sgt. Declan Coady, Sgt. 1st Class Nicole Amor, Capt. Cody Khork, and Sgt. 1st Class Noah Tietjens.
Iranian officials say more than 170 people were killed in the strike. Neither the U.S. nor Israel has said it was behind the attack, but the Pentagon is investigating.
Google is accused in a wrongful death lawsuit filed by the family of a man who committed suicide in October, allegedly at the direction of the tech giant's AI chatbot, Gemini.
The U.S. government must also reimburse businesses for the interest they paid on tariffs recently struck down by the Supreme Court, according to the Cato Institute.
Todd Meadows, a crewmember on the reality TV show "Deadliest Catch," died after he was reported to have fallen overboard, the Coast Guard said.
The fallen soldiers identified by the Pentagon were Sgt. Declan Coady, Sgt. 1st Class Nicole Amor, Capt. Cody Khork, and Sgt. 1st Class Noah Tietjens.
The government unveiled items said to have been found on the boat, including high-powered weapons, more than 12,800 pieces of ammunition and 11 pistols.
In courtroom testimony, Shandelle Maycock recounted the harrowing night her daughter was abandoned in the Everglades, describing the horrors they endured.
A former prison guard trainee has been sentenced to death for the 2019 execution-style killings of five women inside a Florida bank.
Florida coach Billy Napier is getting a fourth season to try to get the Gators back to their winning ways.
A Florida man has filed a federal lawsuit against Jacksonville sheriff's officers who severely beat him last year after he ran from a traffic stop.
The Marion County Sheriff's deputy told authorities that he accidentally shot and killed his girlfriend while cleaning his gun.
The House Ethics Committee announcement comes one day after the Texas primary, which resulted in Rep. Tony Gonzales and Brandon Herrera heading to a runoff.
Attorney General Pam Bondi has rescinded a policy that prohibited political appointees at the Justice Department from attending campaign events or fundraisers, according to a memo seen by CBS News.
In Defense Secretary Pete Hegseth's second news briefing since the start of the Iran war, Hegseth said the U.S. had sunk an enemy ship by a torpedo for the first time since World War II.
The measure, which would block President Trump from further military force against Iran, appears poised to fall short of the simple majority needed to advance in the Senate.
Homeland Security Secretary Kristi Noem is testifying before the House Judiciary Committee. Follow live updates.
The measure was pushed by the Freedom Foundation, a right-wing think tank funded by billionaires, whose intention is to eliminate public sector unions.
Frank Mora noted that the Trump Administration does not want the total collapse of the Cuban government because it could prompt an exodus of refugees from the island to the United States.
Any change to the property tax system would have to be approved by voters in November, and it seemed unlikely the House plan was going to be approved by the Senate.
Alyssa Alhadeff and Alex Schachter were murdered eight years ago at Marjory Stoneman Douglas High School. Now, their parents are championing legislation to ensure that the tragedy never happens again.
As the partial government shutdown gets underway, Moskowitz argued that ICE should be reformed.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
The Sunshine state is on track to be the second-highest, with only nine cases behind Utah, and the numbers lagging by five days.
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
In a new study that could have significant implications for future Alzheimer's treatment, researchers at the University of Miami have successfully figured out how to combat one of the early signs of the neurodegenerative disease.
One patient reports getting stuck with a $2,418 "facility fee" after seeing her doctor. "I didn't even know such a thing existed," she said.
A lawsuit filed late last month took Chicago-based McDonald's to task over the McRib sandwich, calling its name a form of false advertising.
Florida insurance policyholders could be seeing some form of relief in their wallets thanks to market reforms made statewide, Gov. Ron DeSantis said.
The company said Tuesday that 85% of its retail products and "nearly all" of its school offerings are already made without "certified colors."
Less than two days after Delta Air Lines offered $30,000 to each passenger on board the flight that crashed and flipped in Toronto on Monday afternoon, the company is facing its first two lawsuits in the incident — and they likely won't be the last.
Activists are calling for a nationwide boycott of Target stores following the company's decision to roll back its diversity, equity and inclusion initiatives.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
Hillary Knight, Megan Keller and Jack and Quinn Hughes made a surprise appearance during "Heated Rivalry" star Connor Storrie's opening monologue on "SNL."
Singer-songwriter Neil Sedaka, known for his hits like "Laughter in the Rain," "Breaking Up is Hard to Do" and "Calendar Girl," has died.
Bobby J. Brown's breakout role was as a police officer on HBO's "The Wire." He appeared in 12 episodes across four seasons.
Streaming giant Netflix declined to match Paramount Skydance's $31 per share offer for Warner Bros. Discovery.