Corporate America demands refunds after Donald Trump’s tariffs are struck down
Financial Times
February 20, 2026
AI-Generated Deep Dive Summary
Corporate America is now pushing for refunds following the recent ruling that invalidated Donald Trump’s tariffs on imports. This legal challenge, which has thrown into question more than $130 billion in levies imposed during Trump’s presidency, has sparked a significant financial and political backlash from major corporations. The tariffs, widely seen as overreaching presidential authority, were struck down by courts, leaving companies eager to recover the substantial amounts they paid in import taxes. This move highlights a growing divide between businesses and former administration policies, with corporate leaders now positioning themselves as key players in shaping the future of U.S. trade policy.
The tariffs in question were primarily implemented during Trump’s tenure under the guise of protecting American industries and reducing foreign trade imbalances. However, these measures faced widespread criticism from both domestic and international stakeholders, who argued that they violated World Trade Organization rules and caused economic disruption globally. The legal challenge to these tariffs gained momentum after a federal court ruled them unconstitutional in late 2021, setting off a chain reaction of refund requests from affected companies. This has created a complex scenario where businesses are now navigating the process of reclaiming their payments while dealing with potential financial losses tied to ongoing trade disputes.
The implications of this ruling extend beyond individual corporations, as it raises broader questions about the balance between executive authority and international trade law. Businesses are now grappling with how to recoup their expenses, particularly those that may
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Originally published on Financial Times on 2/20/2026