Tariff blow for Trump admin: US court says firms must be refunded after court struck down levy

A New York judge has ordered the US government to refund companies for tariffs struck down by the Supreme Court. The ruling mandates refunds for duties imposed under a law the court deemed unconstitutional, impacting billions in collected taxes. This follows a Supreme Court decision limiting presidential tariff authority, with attention now on customs agencies to manage the mass payouts.

By TOI BUSINESS DESK