Tipsheet

US Appeals Court Restores President Trump's Second Round of Tariffs

A U.S. Court of Appeals has paused a ruling from the U.S. Court of International Trade (CIT) that had struck down President Trump’s second round of tariffs. They have issued a short-term administrative stay on the CIT's ruling, although they are considering a longer one.

The new set of tariffs was immediately enacted following the Supreme Court’s decision invalidating the original Liberation Day tariffs under the International Emergency Economic Powers Act (IEEPA), and put a baseline 10 percent tariff on all U.S. trading partners.

The new tariffs were originally blocked last Friday. 

They were enacted under Section 122 of the Trade Act of 1974, which allows temporary import surcharges without Congressional approval for 150 days.

Those tariffs are expected to expire in late July, unless Congress extends them.

This comes as businesses have begun seeking refunds from the federal government for the first round of tariffs. President Trump informed U.S. companies that he would "remember" those that choose not to pursue the refunds, calling it a "brilliant" or "clever" decision, and potentially implying future favors for them.

The refunds are expected to cost upwards of $166 billion.