Companies could be owed billions of dollars if tariff ruling sticks

Corporate America may be due for a multi-billion-dollar refund after a federal appeals court ruled that President Trump's sweeping global tariffs are unlawful.Why it matters: The case will likely go to the Supreme Court, but if the ruling stands, corporations could be primed for billions in back pay —if they're willing to ask for it.What they're saying: "Depending on what happens with the court cases, there may be an opportunity to get some of those tariffs refunded," said Everett Eissenstat, former deputy director of the National Economic Council under the first Trump administration and a current partner at the law firm Squire Patton Boggs.Companies should carefully track tariff payments in the event of any potential refund opportunities, Eissenstat said.He added that the administration will aggressively enforce tariff payments, so recordkeeping is critical regardless of the court's decision.Zoom out: Legal uncertainty isn't the only hurdle. Many large companies may want to avoid sticking their necks out."There may be a risk in companies doing that. As individuals, they may not like the exposure," Eisenstatt said.Remember: Back in April, Amazon had to quickly deny reports that it was going to display tariff-related prices on its site.The commotion ended with Jeff Bezos and Trump speaking by phone.Amazon did not display tariff-related prices.This is just one example of how corporations have assimilated to the rules of doing business under the Trump administration.Yes, but: "Not every company is an Amazon," Eisenstatt said. "If it's an existential issue, I'm sure they're going to want to get those refunds back, especially if they were, if the court deems they were, collected unlawfully."Between the lines: Companies wary of going it alone could pursue refunds via class-action lawsuits or through trade associations.The bottom line: Trump's tariff program generates about $30 billion a month for the government. If the Supreme Court strikes it down, that's a huge tab for corporate America to get back from Washington.

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