Danish companies in the US can start getting money back for Trump's illegal tariffs. This is what Finans writes.
In February, the US Supreme Court ruled that Trump exceeded his powers when he introduced a long series of increased tariffs. And on Monday, the US customs authorities launched a solution where importers can register their claims against the US state. This way, they can apply to get the illegally collected tariffs back, writes Finans.
Trade policy expert at the Confederation of Danish Industry Peter Bay Kirkegaard tells the media that Danish companies in the US can make use of the scheme if they have been importers.
- And there are probably a number of companies that will do so. We have already heard about some, he tells Finans.
When the decision was made in February by the Supreme Court, it was still unknown how much money had been collected in illegal tariffs, but according to Finans, several media outlets report that 166 billion dollars, equivalent to just over 1053 billion Danish kroner, must have been collected, which must now be paid back.
According to the US customs authorities, it will take between 60 and 90 days to process the claims.
Trump introduced the punitive tariffs using the International Emergency Economic Powers (IEEPA) law. The law is designed for national emergencies, but according to the country's Supreme Court, it does not give the president the authority to impose increased tariffs.
According to the US Constitution, it is Congress - and not the president - that has the authority to impose tariffs and regulate US trade with foreign countries.
Several US companies and states filed a lawsuit against the US administration because they believed that Donald Trump had exceeded his powers by imposing the increased tariffs on goods from abroad.
The issue reached the US Supreme Court after several lower courts have upheld the plaintiffs' claims.
/ritzau/
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