Court Rejects 90-Day Tariff Delay, FedEx Joins Fight for $133B Refunds
A federal court refused to delay mandates for $133 billion in IEEPA tariffs, clearing the way for tariff refunds to proceed. FedEx has filed a lawsuit seeking reimbursement of duties paid after the Supreme Court struck down those tariffs.
1. Federal Court Denies Delay
On March 2, the Federal Circuit rejected the administration’s request to postpone issuing its mandate for 90 days, authorizing the U.S. Court of International Trade to begin formulating relief for businesses contesting IEEPA tariffs.
2. Supreme Court Strikes Down IEEPA Tariffs
Last month, the Supreme Court invalidated $133 billion in tariffs imposed under the International Emergency Economic Powers Act, nullifying duties assessed on imports but leaving refund timing to the lower courts.
3. FedEx Files Suit for Reimbursement
FedEx has now filed a lawsuit in the Court of International Trade to reclaim duties paid under the struck-down tariffs, joining dozens of companies racing to secure refunds of levied duties.
4. Potential Financial Impact
Successful refunds could enhance FedEx’s liquidity and reduce operational costs; while the Court of International Trade is set to establish a timeline, precise disbursement dates remain uncertain.