Tags: tariffs | supreme court | refund | trump

The $130 Billion Scramble to Reclaim Tariff Cash

The $130 Billion Scramble to Reclaim Tariff Cash
(Paul Brady/Dreamstime)

By    |   Friday, 27 February 2026 10:04 AM EST

President Trump’s global tariffs hauled in at least $130 billion in just 10 months.

Now comes the race to get it back.

Since the U.S. Supreme Court struck down many of those tariffs last week, at least 1,800 companies have filed lawsuits demanding refunds, according to a Wall Street Journal analysis — and the number is climbing daily.

Household names including Costco Wholesale, Goodyear Tire & Rubber, Barnes & Noble, and FedEx are among those seeking repayment.

‘Asbestos Level of Lawsuits’

“We’re talking asbestos level of lawsuits,” said Matthew Seligman, a federal litigator filing cases for importers, invoking one of the largest waves of civil litigation in U.S. history.

But unlike asbestos claims that unfolded over decades, the tariff fight, he warned, is “all happening at the exact same time.”

Through Dec. 10, at least 301,000 importers were subject to the tariffs that were ultimately struck down, Customs and Border Protection officials said in a court filing.

That number includes companies large and small — and possibly individuals who paid tariffs directly on overseas purchases.

All roads now lead to the Court of International Trade in New York, a specialized federal court suddenly staring down what could become the largest refund fight in trade history.

Mixed Signals From DC

The Trump administration had previously assured courts that if the tariffs were ruled unlawful, companies could be “made whole through a refund, including interest.”

But after the Supreme Court’s decision, the tone shifted.

“It’s not discussed. We’ll end up being in court for the next five years,” Trump told a reporter when asked whether refunds were coming.

Treasury Secretary Scott Bessent struck a more procedural note: “It’s out of our hands, since it’s in the court, and we will follow the court’s orders.”

For companies waiting on checks that could total millions — or billions — that uncertainty is fueling a litigation frenzy.

Some businesses aren’t waiting to see how it plays out.

Harlan Stone, whose family owns vinyl-flooring company HMTX Industries, filed his case back in December, even though he suspected it might not be necessary.

“It’s a belt-and-suspender move, in case they favor litigants,” he said.

Tariff War Rooms

Major law firms are mobilizing accordingly.

Quinn Emanuel Urquhart & Sullivan and Milbank have established dedicated task forces to process the surge of filings.

Still, not everyone can afford to join the legal rush.

Kimberly Daniels, a Washington-based customs broker at Mercantile Logistics & International Trade, said 20 of her clients are seeking refunds ranging from $2,200 to $7 million. Only the largest, publicly traded firm was able to pursue a court case.

“I’m just telling them to hope that Customs does the right thing” and refunds the money, she said.

Some trade lawyers believe the Court of International Trade could create a centralized, court-supervised refund system — potentially streamlining relief for all importers.

“It’s possible the CIT, as part of its remand, will set up some kind of court-overseen process,” said Greg Husisian, a partner at Foley & Lardner representing several Fortune 500 companies. “It’s all about creating that extra mechanism to potentially get quicker relief.”

© 2026 Newsmax Finance. All rights reserved.


StreetTalk
President Trump's global tariffs hauled in at least $130 billion in just 10 months. Now comes the race to get it back.
tariffs, supreme court, refund, trump
512
2026-04-27
Friday, 27 February 2026 10:04 AM
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