Late last week, the US Supreme Court ruled that President Donald Trump's decision to impose tariffs on goods from most countries in 2025 was invalid. The judges determined that the International Emergency Economic Powers Act (IEEPA), which was enacted in 1977, does not provide the head of state with the power to impose these tariffs.
After that, dozens of companies, such as FedEx Corp., filed lawsuits, joining hundreds of other businesses that had already filed cases before the Supreme Court's decision. These companies included Costco Wholesale, Goodyear Tire & Rubber, and Barnes & Noble Purchasing.
According to the WSJ, the number of companies initiating legal actions to seek compensation is rising every day, and legal experts are forecasting a significant increase in lawsuits in the near future.
"We're talking about a scale comparable to the asbestos scandal," said federal attorney Matthew Seligman, who represents importers in filing lawsuits. Over several decades, the number of lawsuits seeking compensation related to the asbestos scandal in the United States has reached several thousand.
The tariffs introduced by Trump globally last year brought in at least $130 billion for the United States during the ten months they were active. In total, they impacted a minimum of 301,000 importers.
source: wsj.com
After that, dozens of companies, such as FedEx Corp., filed lawsuits, joining hundreds of other businesses that had already filed cases before the Supreme Court's decision. These companies included Costco Wholesale, Goodyear Tire & Rubber, and Barnes & Noble Purchasing.
According to the WSJ, the number of companies initiating legal actions to seek compensation is rising every day, and legal experts are forecasting a significant increase in lawsuits in the near future.
"We're talking about a scale comparable to the asbestos scandal," said federal attorney Matthew Seligman, who represents importers in filing lawsuits. Over several decades, the number of lawsuits seeking compensation related to the asbestos scandal in the United States has reached several thousand.
The tariffs introduced by Trump globally last year brought in at least $130 billion for the United States during the ten months they were active. In total, they impacted a minimum of 301,000 importers.
source: wsj.com
