Korean Media: The number of companies suing Trump over tariff issues has exceeded 1,000!
On January 9, the South Korean media outlet "Today's Finance" published an article stating that according to the information, more than 1,000 companies have jointly filed a lawsuit demanding the cancellation of the tariffs imposed by the Trump administration. Currently, the U.S. Supreme Court is reviewing the legality of these tariffs. If it ultimately rules them illegal, it is expected to have significant implications.
As of the 6th, the United States has received 914 tariff refund lawsuits. Bloomberg explained that since lawsuits usually involve multiple companies, the actual number of companies involved exceeds 1,000.
Most of the lawsuits were filed after the Supreme Court began oral arguments on a case challenging the legality of the tariffs last November. Companies from various industries, including Costco, eyewear manufacturer Essilor Luxottica, tire company Goodyear, Reebok, and Puma, have joined the lawsuit. Subsidiaries of foreign companies such as Kawasaki Heavy Industries in Japan and Longi Green Energy in China have also joined the lawsuit. According to Bloomberg, dozens of companies, including fruit and vegetable producers and distributors like Dole and J.Crew Group, joined the lawsuit earlier this year.
Such collective lawsuits initiated by businesses are interpreted as a precautionary measure against the possibility that the Supreme Court may rule that the tariffs imposed by President Trump under the International Emergency Economic Powers Act are illegal. Even if the Supreme Court eventually rules that these tariffs are illegal, there remain many uncertainties in the future tariff refund procedures. Therefore, more and more people believe that seeking protection through individual lawsuits in advance is more advantageous.
Bloomberg's analysis of 327 companies that have filed tariff refund lawsuits by industry shows that the "Apparel and Textiles" sector has the most companies, with 30, followed by automotive (29), retail (24), wholesale (24), and electrical equipment (22). As of the 14th of last month, the total amount of tariffs collected since the Trump administration announced its reciprocal tariff policy in April is estimated to have reached $13.3 billion.
John Vechione, a senior attorney at the conservative non-profit organization New Civil Liberties Alliance (NCLA), who has been involved in the litigation, said: "Everyone is following the trend and joining the lawsuit. It's a welcome development, but it would be better to contribute from the beginning of the litigation."
Original: toutiao.com/article/1853841416790155/
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