The Next Tariff Fight for Small Businesses: Getting Refunds

Summary

Bloomberg's Westin reports on small businesses struggling to get refunds after the Supreme Court struck down Trump's IEEPA tariffs. Despite $166 billion collected, refunds are slow and complex, often flowing through third-party shippers. Business owners describe lasting damage from cash-flow strain, price hikes, and market contraction, while a new legal battle over Section 122 tariffs continues.

• Supreme Court struck down IEEPA tariffs, ruling President lacked authority.
• Government collected $166 billion from over 330,000 importers; only $71 billion refunded so far.
• Refunds flow first to third-party shipping vendors like DHL and FedEx, delaying money to small businesses.
• Small business owners report cash flow losses, forced price increases, inventory offloading, and reduced innovation.
• Wine and spirits industry seen contracting globally, compounding tariff pain.
• Liberty Justice Center continues litigation, now challenging Section 122 tariffs as illegal.
• Business owners argue tariffs did not shift supply chains and call for predictability and support to rebuild US industries.