00:00President Trump made a remarkable appeal to American business today, telling CNBC's Squawk Box that he will remember companies that
00:08choose not to seek refunds for the tariffs the Supreme Court ruled were illegally collected.
00:13The comments came just one day after U.S. Customs and Border Protection opened a portal for importers to file
00:20claims on more than $160 billion in potential refunds stemming from the now voided IEPA tariffs.
00:27In a landmark 6-3 decision back in February, the Supreme Court held that the International Emergency Economic Powers Act
00:35does not authorize the president to impose tariffs without clear congressional authorization, invalidating billions in duties already collected.
00:44Trump expressed frustration with the ruling, saying the court should have included language clarifying that already collected tariffs did not
00:52need to be paid back, and told CNBC bluntly, I'm not happy with the Supreme Court.
00:57Major retailers stand to benefit enormously from the refund portal. Levi Strauss, for instance, expects to recover around $80 million,
01:06though Gap and many others say they have not yet factored any refund into their financial outlook.
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