• FedEx has filed a lawsuit for a full refund of tariffs imposed by Trump.
• The US Supreme Court ruled that Trump's tariffs exceeded his authority.
• Trade experts expect a wave of similar lawsuits seeking tariff reimbursements.

The global transportation company FedEx has initiated a lawsuit seeking a "full refund" for tariffs imposed during President Donald Trump's administration under the International Emergency Economic Powers Act (IEEPA). This lawsuit is significant as it follows a recent ruling by the US Supreme Court, which stated that the implementation of these tariffs was unlawful, allowing companies like FedEx to seek refunds for over $175 billion in tariffs collected under the law, according to BBC and Reuters.

In its complaint filed in the U.S. Court of International Trade, FedEx seeks a court order to compel U.S. Customs and Border Protection (CBP) to refund all duties paid under IEEPA tariffs. The logistics giant did not disclose the total amount it is seeking but emphasized that it has "suffered injury" due to these duties. FedEx cited the necessity of protecting its rights as an importer of record, as it prepares for a legal battle that trade experts suggest could take years to resolve, according to CBS News and Reuters.

The Supreme Court ruling opens the door for numerous businesses, including large corporations like Costco and Revlon, to pursue similar refunds after being affected by Trump's tariff policies. Given that the tariffs covered a vast array of imports, the upcoming legal proceedings are expected to generate significant discussion about the validity and documentation of tariff costs incurred by businesses, as noted by legal experts familiar with the situation, according to BBC and CBS News.