Refund policy; Ramond James believes that the Tariff refund process will be “lengthy and challenging”

The process for firms to claim potential refunds for import taxes paid under President Donald Trump’s sweeping emergency tariffs will likely “lengthy and challenging,” according to analysts at Raymond James.

While the Supreme Court held that Trump’s use of a 1977 emergency powers law to enact sweeping duties on a host of countries was unlawful, questions swirled around the ramifications of the ruling, particularly the fate of refunds potentially owed to companies impacted by the tariffs.

The U.S. Customs and Border Protection agency has said it will halt collecting tariffs struck down by the Supreme Court at 12:01 a.m. EST (05:01 GMT) on Tuesday — but did not expound on why it was even taking in levies at ports of entry days after the ruling, nor say whether importers would receive possible refunds.

In a message to shippers, the CBP said the collection halt will not apply to any other tariffs set by Trump, such as those under national security and unfair trade practices statutes.