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.
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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.
"If somebody charges you something and it's unlawful, they should give you your money back," Dame CEO Alexandra Fine said.
FedEx said it will reimburse customers if the Trump administration provides refunds following a Supreme Court ruling that struck down emergency tariffs.
President Trump's revised 10% global tariffs took hold on Tuesday, despite his comments over the weekend stating they would start at 15%. CBS News business contributor Javier David has more on the next steps.
Several Democrats are expected to skip President Trump's State of the Union address on Tuesday night. Arizona Sen. Ruben Gallego is one of them and joins "The Takeout" to discuss his decision and more.
Peter Shane, a professor at New York University, joins CBS News 24/7 to break down how the U.S. system of checks and balances is factoring into President Trump's second term after the Supreme Court's recent decision to strike down Mr. Trump's sweeping tariffs.
FedEx is suing the Trump administration for a full refund of all payments it made to the government under President Trump's tariff policy that the Supreme Court has since ruled illegal. Rob Schroeder, the Washington bureau chief for MarketWatch, joins with more.
President Trump will likely have to face the Supreme Court justices during his State of the Union address just days after the highest court ruled against his tariff policy. CBS News' Nancy Cordes reports.
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.
President Trump is doubling down on his use of tariffs, days after the Supreme Court struck down a pillar of his trade policy. CBS News senior White House correspondent Weijia Jiang has more.
President Trump's novel use of a 1974 trade law to impose a global 15% tariff could be ripe for legal challenges, according to trade experts.
The Supreme Court on Friday ruled President Trump does not have the authority to unilaterally impose sweeping tariffs on nearly every country under a federal emergency powers law. Brooke DiPalma, senior reporter for Yahoo Finance, joined CBS News to discuss whether businesses or people will have any chance at refunds based on the court's decision.
Minneapolis ICE protests continue in face of Trump's Insurrection Act threat; Indiana and Miami students reflect on lead-up to football championship.
The Trump administration is unlikely to back down from pursuing additional tariffs following the Supreme Court decision, according to trade experts.
President Trump said Saturday that he will raise global tariffs to 15% after the Supreme Court struck down a set of sweeping global tariffs in a decision last week. CBS News White House reporter Olivia Rinaldi has more.
The Dow Jones has spent Monday in the red after President Trump on Saturday said he would raise his global tariff to 15%. Last week, the Supreme Court struck down a set of sweeping global tariffs, a decision Mr. Trump lashed out at. Sabrina Escobar, a reporter for Barron's, joins CBS News to discuss.
The Trump administration is standing by its threats of sweeping tariffs despite last week's ruling by the Supreme Court that struck down some of his global levies. CBS News' Aaron Navarro has more.
President Trump is threatening to impose 15% global tariffs after the Supreme Court struck down his sweeping levy on major trading partners. Madison Mills, a senior markets reporter for Axios, joins with more.
President Trump slammed last week's Supreme Court tariff decision on social media, calling the ruling "ridiculous, dumb, and very internationally divisive." CBS News chief White House correspondent Nancy Cordes has more.
U.S. farmers and manufacturers are feeling the heat of President Trump's sweeping global tariffs threats following the stunning Supreme Court decision on the economic policy. CBS News' Lana Zak has more.
President Trump threatened a 15% global tariff after the Supreme Court struck down his initial round of sweeping tariffs last week. CBS News' Nancy Cordes has the latest.
President Trump is doubling down on his threats to issue new tariffs following the Supreme Court's decision against his previous strategy. CBS News' Natalie Brand report.
President Trump slammed the Supreme Court justices who ruled to strike down most of his tariffs. Political strategists Rina Shah and Chuck Rocha join CBS News with more details.
Small businesses are preparing to navigate the changes that may come after the Supreme Court struck down the majority of President Trump's tariffs. Kristin Myers, editor-in-chief of ETF.com, an economic news and analytics site, joins CBS News with her analysis.