Trump’s new global tariffs kick in at 10% – business live

Rolling coverage of the latest economic and financial newsNot everyone was happy that Trump’s “reciprocal” tariffs were deemed illegal by the US supreme court last week.FedEx has sued the US government, seeking to receive reimbursement of their share of an estimated $175bn in levies after the highest court found Trump had overstepped his authority in issuing the tariffs.While the supreme court did not address the issue of refunds, FedEx has taken necessary action to protect the company’s rights as an importer of record to seek duty refunds from US Customs and Border Protection. Continue reading…