Companies start getting tariff refunds after Supreme Court decision
The first round of tariff refunds has begun following a Supreme Court ruling that deemed some tariffs unconstitutional. Companies like Oshkosh Corporation and Basic Fun have started receiving partial refunds, which they plan to reinvest in their operations and employees. The U.S. Customs and Border Protection anticipates paying out $35.46 billion in refunds across millions of shipments.
- ▪Oshkosh Corporation has begun receiving tariff refunds as of Tuesday.
- ▪Basic Fun reported receiving 5% of its total claim on early invoices.
- ▪The U.S. Customs and Border Protection expects to pay $35.46 billion in refunds on 8.3 million shipments.
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Months after the Supreme Court ruled some tariffs were unconstitutional, the first round of tariff refunds has begun flowing in.Oshkosh Corporation CFO Matt Field confirmed to CNBC that the company has started receiving tariff refunds as of Tuesday."Following acceptance of our initial filing, we have begun receiving payments on our tariff refund claims, representing an initial portion of our total claims submitted," Field said.The company has not yet verified its total refund amount, Field added.
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