AVANTIFEED

Shares of Avanti Feeds and other textile and seafood companies rose up to 5% on April 21 after the United States began a process to refund tariffs that were previously ruled unconstitutional. The move follows a decision by the US Supreme Court, which found that former President Donald Trump had imposed certain tariffs without proper constitutional authority. As a result, businesses are now eligible to claim refunds totaling about $166 billion, along with applicable interest. Companies can start applying for these refunds through a newly launched US Customs and Border Protection (CBP) portal. According to CBP, approved claims are expected to be processed within 60 to 90 days, although timelines may vary if additional reviews are required. Refunds will be issued in phases, with priority given to more recent tariff payments. However, technical and procedural challenges could delay applications, meaning the financial benefits may take time to flow through businesses and eventually reach consumers. In a narrow 6-3 ruling, the Supreme Court stated that Trump overstepped Congress’ authority in setting import taxes. The tariffs had been introduced under a 1977 emergency powers law, citing the US trade deficit as a national emergency.