Supreme Court News Updates

The Democratic attorneys general and governors in the lawsuit argue that Trump is overstepping his power with planned 15% tariffs on much of the world.

The justices were silent on the refund question, leaving questions of payback to the New York-based U.S. Court of International Trade. No one expects a speedy resolution.

The majority of five conservative justices said the federal law that generally shields USPS from lawsuits over missing, lost and undelivered mail includes “the intentional nondelivery of mail.”

FedEx said in a filing that it has suffered injury from having to pay the tariffs and that the relief it's seeking from the court would redress those injuries.

Among the major questions left unanswered for US importers are the prospects and the process for recouping the money the government collected over the past year under IEEPA.

The court is preparing to begin a four-week recess, and under its usual procedures for releasing opinions, the next potential day for a tariff decision is Feb. 20.  

The company posted better-than-expected results in its most recent quarter, swinging to an adjusted profit of 12 cents a share from a 68-cent loss a year earlier.

The Supreme Court held an opinion day Jan. 9, but no decision came on the legality of the president’s sweeping levies imposed under the International Emergency Economic Powers Act. 

Costco is one of the biggest corporate players to jump into a challenge of the Trump administration's tariffs largely driven this year by small businesses and Democratic state officials.

Wall Street heavyweights have struck deals with companies that could be eligible for reimbursement if tariffs are ruled unlawful, yet investors are finding the trade can be had for relatively cheap.