NEW YORK (AP) — At least two retail customers pursuing tariff-related refunds have filed proposed class-action lawsuits in U.S. courts against companies that also sued to recoup costs from the import taxes the U.S. Supreme Court ruled President Donald Trump imposed without the legal authority to do so. The federal court lawsuits brought against delivery company FedEx and French eyewear company EssilorLuxottica, which makes Ray-Ban sunglasses, seek to ensure that consumers get a share of any refunds the b ...

Refund, please: FedEx is suing the U.S. government, requesting a full refund on what it paid for tariffs set by President Donald Trump last year after the Supreme Court ruled that the tariffs are illegal. FedEx said in a filing with the U.S. Court of International Trade that they have “suffered injury” from having to pay the tariffs and that the relief they’re seeking from the court would redress those injuries. Other companies have already launched efforts to recoup costs from the illegal tariffs, includin ...

Core Viewpoint - FedEx has initiated a lawsuit against the US government seeking a full refund of tariffs paid following a Supreme Court ruling that deemed President Trump's import taxes illegal [1][6]. Group 1: Lawsuit Details - The lawsuit was filed in the US Court of International Trade and seeks a full refund of all duties paid under the International Emergency Economic Powers Act (IEEPA) [2]. - Defendants in the lawsuit include US Customs and Border Protection, its commissioner Rodney Scott, and the US government [3]. - FedEx has not disclosed the total amount paid in tariffs but indicated a significant financial impact due to US trade policies [4]. Group 2: Financial Implications - FedEx warned in September of a potential $1 billion hit to earnings due to tariffs, which would represent approximately 16% of its total earnings for fiscal year 2025 [4]. - Following the announcement of the lawsuit, FedEx shares increased by 0.7% [3]. Group 3: Context of the Supreme Court Ruling - The Supreme Court ruling established that the US Court of International Trade has exclusive jurisdiction over IEEPA levies [5]. - Although the Supreme Court did not address the issue of refunds, FedEx is taking action to protect its rights as an importer [7].

Core Viewpoint - FedEx has initiated legal action seeking reimbursement for tariffs deemed unlawful by the Supreme Court, marking a significant move in the ongoing trade dispute and its financial implications for the company [2][8]. Group 1: Legal Action and Tariff Reimbursement - FedEx's lawsuit, filed on February 23, is the first major case seeking reimbursement since the Supreme Court ruled that the Trump administration lacked authority to impose tariffs under the International Economic Emergency Powers Act (IEEPA) [2]. - The company is requesting the U.S. Court of International Trade to mandate Customs and Border Protection (CBP) to refund all tariffs paid in the previous year under the IEEPA [2]. - The lawsuit asserts that FedEx, as an importer of goods subject to the IEEPA duties, has suffered injury due to the unlawful tariffs imposed [3]. Group 2: Financial Impact and Industry Context - FedEx had previously indicated an anticipated $1 billion headwind in its current fiscal year due to the global trade environment, with projections of a 9-to-10-figure impact from tariffs [7]. - Other companies, including Costco and Revlon, have also pursued legal action against the government prior to the Supreme Court's ruling [7]. - The Supreme Court's decision did not clarify the process for recovering duties already paid, leaving companies in a complex situation regarding potential refunds [9]. Group 3: Broader Implications of Tariffs - The tariffs imposed in recent years have been integrated into customer pricing, supplier contracts, and inventory strategies, complicating any potential recovery of duties [10]. - The financial records of many industries are settled, even as the legal framework for recovering tariffs remains undefined [10].

Core Insights - FedEx has initiated legal action against the U.S. government to reclaim millions in tariff payments following a Supreme Court ruling that deemed the administration's use of the International Emergency Economic Powers Act (IEEPA) to impose global tariffs as exceeding its legal authority [2][9] - The lawsuit is part of a broader movement among major corporations, including Costco, Revlon, and Bumble Bee Foods, seeking compensation for tariffs that have been invalidated, with estimates of the total refund pool potentially reaching $175 billion [3][9] - The Trump administration is facing significant legal challenges in opposing these refund requests, with legal analysts suggesting that the Supreme Court's ruling complicates the government's ability to deny refunds [4][5] Market Reaction and Global Impact - In response to the Supreme Court ruling, President Trump announced a new temporary 15% global tariff under Section 122 of the 1974 Trade Act, which has introduced volatility into international markets and affected trade negotiations with the EU and Japan [6][9] - Despite the uncertainty in global trade, Australia's S&P/ASX 200 index rose by 0.3% to 9,049.80, driven by gains in the materials and gold sectors, as investors sought safe-haven assets amid the turmoil [7][9]

On Friday, the Supreme Court threw out President Donald Trump's signature emergency-law tariffs, but it did not spell out how the federal government should return the $133 billion already collected from importers. On Saturday, Trump signaled he would try to keep pressure on global trade with a new 15% worldwide rate, a move he framed as new 15% tariff after attacking the ruling.Associated Press reports the justices invalidated Trump's use of the 1977 International Emergency Economic Powers Act, saying the s ...

Group 1: Global Financial Landscape - The U.S. Dollar's share of global reserves has fallen to 56.9%, the lowest level since 1994, indicating a shift towards gold and non-traditional currencies by central banks [2][10] - Corporate giants, including Costco, Revlon, and Bumble Bee Foods, are leading a coalition of over 1,000 companies suing the federal government for approximately $175 billion in tariff refunds following a Supreme Court ruling against unauthorized trade duties [3][10] Group 2: Domestic Developments - The Department of Homeland Security has suspended TSA PreCheck and Global Entry programs due to a funding lapse, redirecting personnel to primary security roles amid a legislative standoff [4][10] Group 3: Technology Sector - The job market is experiencing a "Tinderization" effect, where AI-generated resumes are overwhelming HR departments, leading to qualified candidates being overlooked due to automated screening processes [5][10] Group 4: Geopolitical and Energy Developments - Japan has restarted the Kashiwazaki-Kariwa nuclear facility, marking the end of its post-Fukushima hiatus and aiming for 100% energy self-sufficiency and a tripling of nuclear capacity by 2040 [8][10] - Safran is advancing a significant offer to provide India with 100% technology transfer for fighter jet engines, positioning itself as a key partner in India's fifth-generation AMCA project [9]

Core Viewpoint - The Supreme Court ruled against the tariffs imposed by the Trump administration under the International Emergency Economic Powers Act (IEEPA), which were aimed at reducing the trade deficit and fentanyl trafficking, marking a significant shift in trade policy and presidential authority [1][3][4]. Group 1: Tariff Revenues and Legal Implications - Over half of the tariff revenues were generated by the IEEPA tariffs, with the administration indicating plans to switch to other tariff acts if these were deemed illegal [2]. - The ruling eliminates a key negotiating tool for the Trump administration, which was used to encourage investments in the U.S. and achieve diplomatic objectives [3]. Group 2: Judicial Reasoning and Congressional Authority - Chief Justice John Roberts emphasized that if Congress intended to grant the President the power to impose tariffs, it would have done so explicitly, highlighting the need for collaboration between the executive and legislative branches on trade policy [4]. Group 3: Market Reactions and Future Considerations - The 10-year Treasury yield increased by 2 basis points to 4.10%, indicating a mild market reaction to the ruling, with concerns about potential revenue loss and the complexities of refunding tariffs looming over the market [6]. - The stock market showed little movement, with minor fluctuations in major indices, suggesting that investors were not significantly shaken by the ruling [7].

This story was originally published on Supply Chain Dive. To receive daily news and insights, subscribe to our free daily Supply Chain Dive newsletter. Revlon Consumer Products named former CVS Health executive Mario Rivera chief operating officer to lead the cosmetics maker’s global supply chain. Headshot of Revlon COO Mario Rivera Rivera started his new role Monday, overseeing procurement, planning, manufacturing, distribution, warehousing, transportation and customer logistics, according to a Feb. 11 ...

Core Insights - H&R Block has appointed three new independent directors to its Board: Geralyn Breig, Christian Charnaux, and Stephanie Plaines, who bring extensive expertise in consumer engagement, strategic growth, and financial leadership as the company enters a new phase [1][2][5] Group 1: Board Appointments - The new board members are expected to enhance H&R Block's capabilities to meet evolving client expectations and strengthen board succession planning [2] - Geralyn Breig has a 40-year career in consumer brand leadership, previously serving as President of Revlon North America, and will contribute to enhancing client engagement through product innovations [2][4] - Christian Charnaux, with a background in scaling complex organizations, previously led over $18 billion in acquisitions at Inspire Brands, and will support H&R Block's strategic vision for client delivery platforms [3] - Stephanie Plaines, a former CFO with experience across various sectors, including retail and e-commerce, will leverage her financial expertise to support H&R Block's growth initiatives [4] Group 2: Strategic Focus - The board appointments align with H&R Block's strategy to elevate client experiences and support multi-year strategic initiatives [5] - The company combines digital innovation with human expertise to provide tax preparation services and financial products, aiming to improve client outcomes [5]