So do you think customs will set up a procedure for requesting refunds? And if so, what do you think that procedure looks

like? You know, again, we don't know for sure, but I guess sort of our view is I don't think a separate procedure is really necessary.

In other words, CBP has existing processes to issue tariff refunds, right? They do this every day.

through the normal course, not on AEPA tariffs, but on other issues.

So without getting sort of too much into the weeds, the importers would have sort of two buckets of entries.

The vast majority of their entries should be what are referred to as unliquidated entries.

You know, the way a customs entry sort of works is the shipment comes in, you file your entry declaration and you pay the tariffs that are owed.

So do you think, you know, after the Supreme Court ruling, they still should be doing both of those things?

So what was the majority's reasoning? Ted broke it down for us.

The Supreme Court didn't really get into whether or not there is a national emergency here, but instead, what they did was look at the powers.

So assuming there's a national emergency, does the powers that IEEPA provides the president include the power to impose these tariffs? And this is where the Court basically just said no.

Doesn't say anything about the president.

Doesn't say anything about the president.

And, and what it means is that if, if Congress is going to give away the power to impose tariffs to another branch of government, the executive branch, they need to do so explicitly.

Can you explain what you mean by this, what liquidation means and why wouldn't one of those steps be enough?

Yeah.

So I think in this sort of in this world, no one really knows exactly how the refund process will shake out if the Supreme Court strikes down the tariff.

So if the Supreme Court strikes down the tariff, says IEPA doesn't provide...

the authority to impose tariffs, then people will be entitled to a refund.

So the question then becomes like, well, what, you know, how do you get a refund? And the answer to that right now is no one really knows for sure how this process will work.

What we do know, however, is that there is a normal, you know, non-AEPA related process, administrative process with U.S. Customs and Border Protection.

What statute do you think the president will use to impose those tariffs? And can he do what he wanted to do with the IEPA tariffs via other statutes?

Can you explain what that means and if that's a departure from prior policy and why that elimination of exclusions may be significant?

And it is a departure from sort of prior policy.

So when this 232 investigation was originally conducted during President Trump's first term, tariffs were imposed.

What the Trump administration then did was proceed to negotiate agreements with other countries for quantitative limits on the amount of steel and aluminum they would ship to the United States or other types of arrangements to eliminate the tariffs.

In addition, they created a product exclusion process.

The idea being that if you were a US company who needed to acquire certain steel or aluminum, and that wasn't available or wasn't produced in the United States, and you had to import it into the United States, you could go to the government and request an exclusion from the additional tariffs.

But again, predicated primarily on the fact that that product was not being produced domestically.

Can you explain why that's so?