1st BATCH OF FILES AVAILABLE NOW!

It's a big tho not unexpected blow to the Trump Administration, tho not necessarily a big win for all bevs. This morn, the Supreme Court ruled that President Trump&#39;s tariffs under the International Emergency Economic Powers Act (IEEPA) are illegal by a vote of 6-3, striking down many of the sweeping levies on US trade partners. But don't expect this saga to end any time soon. The ruling no doubt brings a sigh of relief for many businesses that import bevs or key bev inputs across Atlantic or Pacific, tho imports from Mexico and Canada that are compliant with US-Canada-Mexico Agreement have generally remained exempt. But crucially, 50% tariffs on aluminum, steel and copper, imposed as separate national security provisions under Section 232 trade law, are still in effect and unimpacted by ruling. (Unlike IEEPA, Section 232 explicitly mentions the president&#39;s power to adjust imports.)That means the tariff impacts most widely felt by bevcos &mdash; increased prices of aluminum cans &mdash; remain in place for now. That said, in recent wks there's been talk by Trump administration of rolling back those metal tariffs to help with affordability ahead of midterm elections.Still, the administration has vowed to recreate similar levies to those previously in place via alternate methods. Aside from expansions under Section 232, another floated possibility had been use of Section 122 tariffs, which reportedly allow for a surcharge of up to 15% on all imports for 150 days, at which point Congress would have to vote to extend. And he duly did as we neared deadline, saying he'd inaugurate 10% global tariff while also initiating unfair-trading investigations under Section 301. So there's no guarantee that the alternative will be better than the status quo. Note too that amidst all the back and forth on tariffs, the US trade deficit hit a record high for physical goods last year.For their part, trading partners both in and out of USMCA aren't counting on any lessening of trade tensions regardless of this ruling. Unlike more nuanced statements emanating from gov't leaders, Canadian Chamber of Commerce didn't mince words: Supreme Court's decision "is a legal ruling, not a reset of US trade policy. This is certainly not the last chapter of this never-ending story. Canada should prepare for new, blunter mechanisms to be used to reassert trade pressure, potentially with broader and more disruptive effects."Let the Great Refunding Begin? Tho hundreds of US companies already have raised their hands to capture refunds of the tariffs they've had to pay, that's a gnarly issue. Total amount collected under IEEPA could be upwards of $175 bil, Reuters reports, and that "likely would need to be refunded" following Supremes' ruling. Whether that will actually happen remains unclear at press time. But if it does come to pass, "refunds are not automatic. Any importer that wants its money back must sue individually," according to NY Times. The US Court of International Trade would ultimately manage that in a process that could take years to play out. There's equity issue too, as court's dissenters pointed out: Importers passed most of the levies on to their customers, so will distributors, retailers and consumers be entitled to some money back too?

Supreme Court Strikes Down Trump's Emergency Tariffs; What Comes Next?

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