Source: USA Today
“Jay Foreman said he’s ‘locked and loaded’ for the U.S. government’s April 20 launch of a new system to refund up to $166 billion in illegally collected tariffs, but he and many other importers are realistic that much could still go wrong. ‘You have to be worried about what they could possibly do to jam things up,’ said the CEO of toymaker Basic Fun, which sells Tonka trucks, Care Bears and K’Nex construction toys. The refund system is the latest twist in a drawn-out battle over tariffs collected over the past year …. The constantly shifting tariffs roiled global business as companies rushed to shift supply chains to avoid them as well as figure out who would ultimately pay the taxes. The Supreme Court in February struck down the tariffs President Trump pursued under a law meant for use in national emergencies, handing the president a stinging defeat.” (04/20/26)