Tariff ruling sends CEOs back to company war rooms

iffs under a different legal authority prove costlier?

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Some lawyers warned that companies may need to file litigation to get tariff refunds.

(Bloomberg)

And how to proceed without ruffling the Trump administration—which has staked its economic agenda on tariffs—or customers seeking price breaks?Many company bosses say they are now spending the weekend digesting legal briefs and the president’s response to game out what comes next. Since the ruling, Trump has announced a new global tariff of 15% under a different legal authority, arguing the levies are necessary to address large trade and balance-of-payments deficits.

“We'll try to understand it much better,” Kathwari said of the days ahead. “It’s a bit complicated.”

Mark Mintman., chief financial officer for Kids2, an Atlanta-based manufacturer of baby products and toys, learned of the ruling on vacation in Florida from a string of text messages. Since he was away, he entered the 170-page ruling into ChatGPT for a quick summary, he said.

“My emotional response is muted,” said Mintman, given all of the uncertainty and potential additional tariffs. “I'll take this as a tiny win.”

Kids2 sold around half of its potential refund value, which it estimates is around $15 million, to a hedge fund to recoup some of the cost. The fund will also help with any legal action needed to pursue a refund. The uncertainty around refunds “is a big reason we made the agreement,” he said.

Trade groups for retailers, apparel makers and others said they hoped companies could quickly reclaim billions in tariffs payments. The National Retail Federation called on courts to provide a “seamless process to refund the tariffs to US. importers.” Neil Bradley , chief policy officer at the U.S. Chamber of Commerce, said