10:04:28 EST Thu 05 Mar 2026
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Toyota CDR (CAD Hedged)
Symbol TOYM
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Close 2026-03-04 C$ 13.04
Market Cap C$ 1,956,000
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Globe/AP say Honda, others told judge clarifies tariffs

2026-03-05 07:40 ET - In the News

See In the News (C-HNDA) Honda CDR (CAD Hedged)

The Globe and Mail reports in its Thursday edition that a federal judge in New York ruled that companies affected by tariffs that the U.S. Supreme Court overturned are entitled to refunds. An Associated Press dispatch to The Globe quotes Justice Richard Eaton saying that all importers "were entitled to benefit" from the court's decision. He deemed the tariffs imposed by President Donald Trump unconstitutional under the 1977 International Emergency Economic Powers Act. The Supreme Court clarified that tariff-setting power lies with Congress, not the President. Most Canadian exports to the U.S. were largely unaffected by tariffs due to the U.S.-Mexico-Canada free-trade agreement. However, Mr. Trump imposed additional tariffs on metals, vehicles and other products, which still apply to Canadian exports and were not invalidated by the Supreme Court's decision. In his ruling, Justice Eaton wrote that he alone "will hear cases pertaining to the refund of IEEPA duties." The ruling offers some clarity about the tariff refund process, something the Supreme Court did not mention in its Feb. 20 decision. Trade lawyer Ryan Majerus said he expects the government to appeal or "seek a stay to buy more time for U.S. Customs to comply."

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