The Supreme Court has officially stuck down the International Emergency Economic Powers Act (IEEPA), creating a refund opportunity for affected importers historic in scale. At stake is an estimated $175 billion potential duty refunds for companies that have been paying tariffs imposed under IEEPA since April 2025.
For importers sitting on these claims, the question is no longer just legal. It's financial. How do you unlock value from an asset that may take months or years to fully materialize?
The Challenge Importers Face Securing Refunds
Even in the best-case scenario, a refund check will not arrive overnight. The case will likely move back to lower courts for implementation, and U.S. Customs and Border Protection (CBP) will need to establish reliquidation processes. Administrative and judicial timelines will stretch for months, potentially years.
In the meantime, many businesses are carrying these claims on their balance sheets without any near-term access to that value. Working capital is tied up and the asset exists but isn't liquid. The gap between having a valid claim and actually receiving its value is the problem that Seaport Global's claims trading platform was built to solve.
How to Monetize Your IEEPA Claim Faster
To gain immediate value from an IEEPA claim, importers now have the option to trade their claim. Through Seaport Loan Products LLC (Seaport), Seaport Global operates a specialized claims trading desk that connects claims holders with institutional investors who are willing to provide near-term liquidity in exchange for a future recovery. “Seaport has been a leader in the claims trading market since 2001. Our experience has prepared us to meet the complexity and scale of the current moment for our clients,” says Michael J. Meagher, CEO of Seaport Global.
Seaport has traded billions of dollars in claims across some of the most consequential financial and legal events in modern history, including $300 million in Employee Retention Credit claims, several billion dollars of claims in the Lehman Brothers bankruptcy and Madoff recovery proceedings, and substantial positions in the Visa/Mastercard antitrust litigation. Each of these situations involved navigating uncertainty, complex legal processes, and long recovery timelines, which is exactly the environment importers with IEEPA claims are operating in today.
What Seaport Global Offers Importers
For companies evaluating their IEEPA claims, Seaport provides a comprehensive set of services tailored to each client's specific situation. Seaport’s team works with importers to assess the size, strength, and likely recovery timeline of their IEEPA refund claims, giving businesses a clear view of the asset on their books.
Not every company needs the same outcome. Seaport designs transaction structures that reflect each client's liquidity needs, risk tolerance, and timeline, whether that means a full monetization now or a phased approach.
From there, Seaport’s established relationships with institutional investors create a competitive marketplace for clients. This makes sure that businesses receive fair value for their assets rather than accepting a distressed discount from a single counterparty.
Why Act Now
The Supreme Court ruling is rapidly shifting the dynamics of this market. Demand for IEEPA claims is already building, and the companies that assess their positions and engage early will be better placed to transact on favorable terms.
For businesses that have been absorbing the cost of IEEPA tariffs since early 2025, there is no reason to treat these claims as a passive waiting game. They represent real financial value, and with the right partner, that value can be accessed sooner. To learn more, contact Seaport Global at marketplaceinquiry@seaportglobal.com.
Seaport Global and Seaport Loan Products LLC provide financial services and are not engaged in the practice of law. This post is for informational purposes only and does not constitute legal or financial advice. Companies should consult qualified trade counsel regarding their specific legal rights and obligations.
Source: Reuters & The Hill