The Supreme Court last week struck down tariffs imposed by the Donald Trump administration under the International Emergency Economic Powers Act (IEEPA).
Tariff Refund
While the Supreme Court ruling did not say anything about tariff refunds, it has given companies an opening to look for refunds.
FedEx Corp. has emerged among the first companies to seek a refund, with the global shipping and logistics giant filing a lawsuit seeking to recover tariffs paid by the company.
While the company’s lawsuit has not specified an amount, it mentions that it is seeking a “full refund” of the tariffs paid to the U.S.
Here’s What The Prediction Market Is Saying
Polymarket, a Polygon (CRYPTO: POL) based prediction platform that allows users to wager on an outcome using the USDC (CRYPTO: USDC) stablecoin, is currently betting on a contract “Will the Court Force Trump to Refund Tariffs?”
The contract has seen action worth over $160,000.
The prediction market thinks the courts will not force the Trump administration to issue refunds for the tariffs. Bettors have placed a 19% probability on “Yes” and 82% probability on “No.”
With no clarity from the Supreme Court on refunds, the Trump admin has not spoken about issuing tariff refunds yet.
Goldman Sachs Says Don’t Count On Price Drops
According to Goldman Sachs, while the ruling may not lead to immediate price reductions for consumers, it opens the door for companies to seek refunds on the $133 billion collected from importers. However, the process for these refunds remains unclear.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
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