GC Bootcamp for Family-held Business: Introduction to Estate Planning, Taxes & Family Offices

Artificial intelligence is no longer a peripheral tool in personalized medicine. AI is becoming a central driver of how diagnostics,…

Share on Twitter Share by Email Share Back to top In the immediate aftermath of the U.S. Supreme Court’s decision invalidating tariffs imposed under the International Emergency Economic Powers Act (IEEPA), the Trump administration has moved quickly to replace those tariffs with a new across-the-board tariff under Section 122 of the Trade Act of 1974.

The importer of record is the entity that initially pays all tariffs and thus is the entity that would receive any IEEPA tariff refunds. Nonetheless, behind the scenes there often are a variety of mechanisms importers of record may have used to handle the often unexpected tariffs, including pushing back on suppliers for price concessions, using surcharges to pass along tariffs, or general price increases.