Jan 8 (Reuters) – The U.S. Supreme Court is set to issue rulings on Friday on cases related to the legality of tariffs imposed by President Donald Trump under the International Emergency Economic Powers Act.
The administration faces the possibility of having to refund nearly $150 billion paid in tariffs to importers if the court declares that the sweeping duties Trump has imposed under the IEEPA are illegal.
Major corporations such as Costco, Revlon, Ray-Ban eyeglass maker EssilorLuxottica, Bumble Bee Foods, Yokohama Tire and Kawasaki Motors have sued the U.S. government challenging IEEPA-based tariffs and seeking refunds on duties paid.
The tariffs invoked under the Emergency act fall into three categories: fentanyl-linked tariffs on China, Mexico and Canada; broad “reciprocal” tariffs aimed at shrinking trade deficits; and punitive levies against countries for non-trade political reasons.
Notably, pharmaceuticals, energy, agricultural commodities, services as well as aircraft and aerospace industries have been largely exempt from U.S. tariffs, protected due to their critical nature, global supply chains and potential impact on public health and international commerce.
Meanwhile, the EU and countries such as the UK, Japan, South Korea, Vietnam and Switzerland have struck tariff-reduction deals with the U.S. in exchange for market access and investment commitments.
Here are some countries and industries exposed to the IEEPA-based tariffs:
Countries Industry Companies Tariff
exposed impacted rate
China and Hong Consumer 10%
Kong electronics, Lenovo,
machinery,
medical Volvo Cars,
devices, Costco,
chemicals, toys Walmart,
Amazon, Target,
Apple
Taiwan Semiconductors/ 20%
chipmakers Foxconn, TSMC
Mexico Autos, auto no tariff
parts, Volkswagen, for
industrial General Motors, USMCA-comp
components, Ford liant, 25%
consumer goods for
non-USMCA
goods
Canada Metals, energy no tariff
products, Alcoa, for
manufactured TransCanada-lin USMCA-comp
goods ked suppliers, liant, 25%
Canadian steel for
producers non-USMCA
goods
European Union Autos, 15% on
(EU) and the machinery, AstraZeneca, most EU
UK industrial Tata Motors’ goods,
equipment, Jaguar Land 10%-25% on
chemicals, Rover, UK goods,
consumer goods, Stellantis, depending
pharmaceuticals Sanofi on
specific
product
and
category
Japan and Autos, Reduced to
South Korea machinery, Honda, Hyundai about 15%
industrial Motor, Samsung under
equipment, Electronics negotiated
consumer goods deals
Southeast Apparel, 19% to 20%
Asia, often footwear, Nike, Toyota, “reciproca
called the electronics Western l” rates
China-plus-one assembly, Digital,
manufacturing furniture, Hewlett Packard
hub (Vietnam, homeware, auto , VF Corp and
Thailand and parts Lululemon
Indonesia)
India Pharmaceuticals Sun 50%
, refined Pharma, Dr tariffs on
fuels, Reddy’s, some of
specialty Reliance-linked key
chemicals, gems exporters, exports
and jewelry, Mattel, Hasbro
agri, auto
components,
toys
Brazil Steel, 40%
aluminum, Embraer, punitive
agricultural ArcelorMittal, tariff
products Gerdau, plus 10%
Marfrig “reciproca
l” tariff
South Asia Apparel, 19% on
except India textiles and H&M, Gap, Pakistan,
(Bangladesh, sports goods Victoria’s 20% on
Sri Lanka and Secret, and Bangladesh
Pakistan) Adidas and Sri
Lanka
(Reporting by Pooja Menon and Puyaan Singh in Bengaluru; Editing by Alan Barona)
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