Skip to main content

Featured

5 Things Every Canadian Should Know About Their Money Today

From a rate hold to a sovereign wealth fund — here's what's moving the needle on your finances right now. 01 — DEADLINE Today is the tax filing deadline — and your refund may be a lifeline April 30 is the last day most Canadians can file their 2025 income tax return without penalty. With the cost of living still squeezing household budgets, many Canadians are counting on their refund as a financial cushion. Filing late triggers a 5% penalty on any balance owing, plus 1% for each additional month. If you haven't filed yet, the CRA's NETFILE portal is still open — act before midnight. 02 — INTEREST RATES Bank of Canada holds steady at 2.25% — no relief yet for borrowers The Bank of Canada kept its policy rate at 2.25% yesterday — the third consecutive hold of 2026. Governor Tiff Macklem cited rising inflation driven by higher global energy prices tied to the Middle East conflict, while U.S. tariffs continue to weigh on exports. CPI inflation climbed to 2.4% in Ma...
Post a Comment
Read more

article

Labels

U.S. Firms Face Growing Uncertainty as Government Rejects Refunds on Illegal Tariffs

 

                Container ships at APM Terminals at the Port of Los Angeles, California, U.S., March 4, 2026.


U.S. Companies Blocked From Recovering Tariffs Ruled Illegal by Supreme Court

The U.S. government is refusing to refund billions of dollars in tariffs that the Supreme Court recently declared unlawful, according to reporting from the Financial Times. Customs officials have denied multiple requests from American companies seeking reimbursement for duties imposed under emergency powers used by President Donald Trump. 

The Supreme Court’s ruling last month invalidated the tariffs but did not outline a process for issuing refunds, leaving importers in limbo. As a result, businesses are facing mounting uncertainty and are increasingly turning to the courts to resolve disputes. The government had collected more than $130 billion in payments under the now‑invalidated tariff regime, a central pillar of Trump’s trade policy. 

While a federal judge recently affirmed that companies are legally entitled to refunds in at least one case, the broader lack of guidance has created a patchwork of outcomes and intensified frustration among affected firms. 


Labels:

Comments

Post a Comment