American retail industry group calls for tariffs to be returned quickly.
The retail industry group is calling for the return of tariffs, after the Supreme Court rejected President Trump's tariff policy. The National Retail Federation is urging lower courts to ensure a smooth process for refunding tariffs to American importers. The American Apparel & Footwear Association expressed confidence that the government will quickly provide refunds and said the ruling is important for alleviating the "heavy tariff burden" faced by the clothing and footwear industry. Shares of clothing companies including Lululemon, Levi Strauss, and Coach soared after the news was announced, though they were largely flat by midday.
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