By Timothy Aeppel<\/p>\n
May 12 (Reuters) – Heavy-truck maker Oshkosh Corp and toy maker Basic Fun on Tuesday both said they had received partial payments of the refunds they had sought of \u200cthe import tariffs they had paid under the Trump administration that were invalidated earlier this year \u200cby the U.S. Supreme Court.<\/p>\n
The payments mark a milestone in a fraught battle over the taxes. The U.S. government has been ordered \u200bto refund up to $166 billion to importers after the tariffs were deemed illegal, and doubts have lingered about whether a last-minute move by the Trump administration could still stall or slow the process.<\/p>\n
“The issue is will the funds flow like a river or fire hose or like a stream or garden hose,” Jay Foreman, CEO of \u200cBasic Fun, which sells Tonka trucks, \u2060Care Bears and K’Nex construction toys, said in an email. “So far, the funds are trickling out but they have started.”<\/p>\n
Foreman said he received $400,000 out of his $7.4 million in \u2060claims. Oshkosh hasn\u2019t disclosed the amount it is seeking, but the company acknowledges it started receiving a portion.<\/p>\n
U.S. Customs and Border Protection said in a Tuesday court filing that it anticipates paying refunds of $35.46 billion on 8.3 million \u200bshipments that \u200bhave been processed as of 7 a.m. Eastern time \u200bon May 11.<\/p>\n
That is just a small slice \u200cof the money expected to be returned.<\/p>\n
As of early April, the CBP said importers had completed the necessary steps to get refunds totaling $127 billion, or more than three-quarters of the total eligible to be refunded. More than 330,000 importers paid the tariffs on 53 million shipments.<\/p>\n
Meanwhile, another front of the battle over refunds is opening, as customers who paid additional costs to cover all or part of the taxes are now \u200cseeking those refunds passed along from importers who get payments from \u200bthe government.<\/p>\n
Jim Estill, CEO of appliance importer Danby, said he \u200bhasn\u2019t received any refunds yet. But he has \u200bheard from two customers asking for a share when he does get the money.<\/p>\n
“When \u200cwe get a refund, we\u2019ll look at \u200bgiving a refund to some \u200bof those customers,” he said. “But we haven\u2019t committed to anything because we haven\u2019t received any refund yet.”<\/p>\n
He noted that the original tariffs were partially absorbed into his costs, rather than passed through in \u200bprices, and that it cost money \u200cto seek a refund.<\/p>\n
“We used a consultant to help us file this and they get \u200ba percentage of the refund,” he said.<\/p>\n
(Reporting by Timoty Aeppel; Additional reporting by Tom Hals; \u200bEditing by Mark Porter, Aurora Ellis and Daniel Wallis)<\/p>\n","protected":false},"excerpt":{"rendered":"By Timothy Aeppel May 12 (Reuters) – Heavy-truck maker Oshkosh Corp and toy maker Basic Fun on Tuesday…\n","protected":false},"author":3,"featured_media":791951,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[323290,64,79,323289,290670,47027,67,132,68],"class_list":{"0":"post-791950","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-basic-fun","9":"tag-business","10":"tag-economy","11":"tag-jay-foreman","12":"tag-oshkosh-corp","13":"tag-u-s-supreme-court","14":"tag-united-states","15":"tag-unitedstates","16":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116563791633691693","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/791950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=791950"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/791950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/791951"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=791950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=791950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=791950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}