US Judge Orders Trump Administration To Halt Tariff Calculations For Importers: Report

• Judge Eaton has also repeatedly ordered customs officials to reascertain some of the import levies to remove the impact of President Trump’s tariffs that were applicable before the Supreme Court ruling. 
• As per the report, Judge Eaton said that he has been assigned to process all the refund lawsuits related to the tariffs that have been filed with the trade court.
• Meanwhile, Treasury Secretary Scott Bessent said earlier on Wednesday in a CNBC interview that Trump’s new 15% import rate would likely go into effect this week.

A U.S. federal trade court judge has reportedly ordered the Trump administration to stop calculating tariffs on importers’ customs paperwork.

According to a report from Bloomberg, Judge Richard Eaton from the federal trade court in New York has ordered the Customs and Border Protection ​to allow the entry of ​goods into the country without ​assessing tariffs. The move is to simplify refunds.

The judge also questioned the administration about continuing to charge U.S. President Donald Trump’s emergency tariffs on importers’ customs paperwork even after the Supreme Court struck down the tariffs, calling them illegal.

Recalculation Ordered

Judge Eaton has also repeatedly ordered customs officials to reascertain some of the import levies to remove the impact of President Trump’s tariffs that were applicable before the Supreme Court ruling.

As per the report, Judge Eaton said that he has been assigned to process all the refund lawsuits related to the tariffs that have been filed with the trade court.

Meanwhile, shortly after the Supreme Court ruled that Trump’s use of the International Emergency Economic Powers Act, or IEEPA, to reciprocally impose tariffs was unlawful, the president announced a 10% baseline tariff on all imports. He later hiked this to 15%, with Treasury Secretary Scott Bessent saying earlier on Wednesday that the new rate would likely go into effect this week.

Bessent also told CNBC in an interview that U.S. levies would effectively be back to earlier levels by August.

Market Reactions

Meanwhile, U.S. equities edged higher up in Wednesday’s extended trading hours. The SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up by 0.09% at the time of writing. The Invesco QQQ Trust ETF (QQQ) climbed 0.04% higher, and the SPDR Dow Jones Industrial Average ETF Trust (DIA) was up 0.01%.

On Stocktwits, retail sentiment around the S&P 500 ETF was in the ‘bearish’ territory at the time of writing.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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