With more pain to come for the US deficit. This from the NZ Herald...... New Zealand-founded manufacturing conglomerate Zuru has sued the United States Government, leveraging a Supreme Court decision that ruled President Donald Trump’s tariffs were illegal and claiming entitlement to hundreds of millions of dollars in refunds. In its complaint to the United States Court of International Trade, Zuru called the tariffs “unprecedented and unlawful” and said the collection of US$200 billion ($340b) from tens of thousands of companies over the past year had a “devastating effect on importers”. Importers had challenged the legality of last year’s tariffs and in late February those appeals reached the Supreme Court, where Trump’s use of emergency powers to impose the trade taxes was ruled unlawful. Courts ordered tariffs collected to date to be repaid, but the process – involving repaying 30,000 possible claimants more than US$200b collected over the past year – has proven complicated and elongated.
