Siddartha Rao Quoted in Money.com on Supreme Court Tariff Refund Case

With the Supreme Court poised to issue a consequential ruling on the legality of tariffs imposed under the International Emergency Economic Powers Act, courts are now confronting fundamental questions about the limits of executive power and the future of U.S. trade policy. HNRK partner Siddartha Rao was quoted in Money.com discussing whether importers could recover billions in tariffs if the Trump-era measures are struck down. 

Sid explained that the refunds are not automatic even if the tariffs are deemed unlawful, as the court may choose to apply its decision prospectively or remand refund issues to lower courts, leaving companies to navigate a complex and highly technical legal process before any recovery occurs. He also emphasized that while consumers or exporters may have absorbed some tariff costs through higher prices or lower margins, refund rights typically sit with importers. Any consumer benefit would likely come through future pricing rather than direct payments.

Read Sid’s full thoughts here: https://money.com/scotus-tariff-decision-refunds/.