Overview
- The appeals court dissolved its stay and issued mandates forthwith, rejecting the administration’s bid for a 90‑day pause and enabling the Court of International Trade to craft relief.
- The Supreme Court ruled 6–3 on Feb. 20 that IEEPA does not authorize tariffs, after which the president rescinded those levies and invoked Section 122 to impose a 10% temporary surcharge.
- Refund exposure is estimated in the $130 billion to roughly $175 billion range, with the government previously stipulating refunds with interest for similarly situated plaintiffs.
- Senate Democrats urged Treasury to begin automatic repayments and to publish a refund timeline, calling the IEEPA collections illegal taxes on businesses and consumers.
- Policy analysts estimate delay adds about $700 million per month in interest as more than 900 follow‑on suits proceed at the trade court, with companies including FedEx, Revlon, and Costco seeking relief.