US President Donald Trump has been sued by a major company that is seeking a “full refund” after the White House’s sweeping tariffs were declared illegal by the Supreme Court last week.The logistics giant filed its case with the US Court of International Trade, naming US Customs and Border Protection (CBP), its commissioner Rodney Scott, and the federal government as defendants.In FedEx’s filing to the court, the company stated: “Plaintiffs seek for themselves a full refund from Defendants of all IEEPA duties Plaintiffs have paid to the United States.”FedEx confirmed on Monday it had “taken necessary action to protect the company’s rights as an importer of record to seek duty refunds” from the CBP.The shipping company joins a growing queue of businesses pursuing similar claims as the Trump administration comes under pressure over its handling of trade policy.In the weeks preceding last Friday’s Supreme Court decision, hundreds of firms lodged legal challenges against the tariffs in anticipation of seeking reimbursements.Among those taking action were cosmetics manufacturer Revlon, aluminium producer Alcoa, and tuna brand Bumble Bee. Retail giant Costco had pre-emptively sued the administration, arguing in its filing: “The text of IEEPA does not use the word ‘tariff’ or any term of equivalent meaning.”Furthermore, retail giant Costco had pre-emptively sued the administration, arguing in its filing: “The text of IEEPA does not use the word ‘tariff’ or any term of equivalent meaning.” LATEST DEVELOPMENTSFtse 100 slips as investors ‘brace for further volatility’ amid AI and Trump tariffs ‘jitters’Britons stuck in ‘personal recession’ as Rachel Reeves’s economy strategy ‘isn’t working’Scottish economy dealt £11billion blow during energy crisis as homes bore £2,260 in excess billsThe Trump administration is estimated to have collected at least $130billion through the import duties imposed under the International Emergency Economic Powers Act (IEEA).A group of 22 Democratic Party senators put forward legislation yesterday that would compel the Trump administration to return all tariff revenue, plus interest, within a six-month timeframe.The proposed bill mandates that the CBP, which would administer the repayments, give priority to smaller enterprises when processing refund claims.Although the Supreme Court ruled that Trump’s use of IEEPA to impose tariffs was not permitted under the law, the justices offered no direction on how the collected funds should be returned to those who paid them.Both President Trump and Treasury Secretary Scott Bessent have indicated that the question of refunds could remain tied up in litigation for years to come.On Friday, the Republican Party leader signed a proclamation invoking Section 122 of the 1974 Trade Act, establishing a fresh 10 per cent temporary levy on imports from all nations. By the following day, President Trump plans to raise these replacement tariffs to 15 per cent in defiance of the Supreme Court.Kate Leaman, chief market analyst at AvaTrade, said: “The Supreme Court’s decision last week to block President Trump’s big emergency tariffs gave markets a quick lift, but his fast follow-up, has markets wobbly again today.”Trump bumped this from a 10 per cent blanket tariff, skipping some energy and minerals but nailing most imports. It’s spooked the EU into pausing deals and India into delays. US companies buying abroad, in tech, factories, and gadgets, face fresh cost squeezes – though milder than before.”This isn’t a permanent end to trade disputes. The workaround lasts a maximum of 150 days, after which Congress will weigh in. Investors should expect further ups and downs ahead.”
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