- A core-satellite portfolio splits investments into stable core holdings and higher-risk satellite picks.
- The core is usually 60% of the portfolio, with satellites at 40%.
- It blends passive index investing with active opportunity bets.
U.S. Customs and Border Protection has announced a new deadline for importers looking to file for electronic refunds related to tariffs imposed during President Donald Trump's administration.
Importers must submit their applications by February 6, 2026, to qualify for refunds if the Supreme Court rules that these tariffs are illegal.
The Supreme Court is expected to announce a decision on the legality of Trump's tariffs as early as January 6, 2026. This ruling could have significant implications for U.S. importers, particularly concerning the $200 billion collected in tariffs since the tariffs were imposed during Trump's second term.
The Court of International Trade has the authority to demand refunds if the tariffs are declared illegal, with a two-year statute of limitations for filing claims.
On January 2, 2026, U.S. Customs rolled out a new electronic refund process through the Automated Clearing House (ACH) network. This change follows a March 25, 2025, executive order aimed at modernizing government payments and moving away from physical checks.
The new system, known as the Automated Commercial Environment (ACE), will enable businesses to file import and export data more efficiently and receive refunds electronically.
According to Lori Mullins, director of operations at Rogers & Brown Custom Brokers, it is crucial for importers to establish their accounts with Customs before the February 6 deadline to avoid any interruptions in receiving potential refunds.
Mullins emphasized the urgency of setting up electronic ACH accounts, especially with the Supreme Court ruling on the horizon. "The window Customs provided was short, so with a possible SCOTUS ruling coming in January, the time to get the electronic ACH set up for possible refunds is now," said Mullins.
Importers have expressed optimism that the Supreme Court will rule favorably regarding the tariffs. However, they are also aware that the refund process may take additional time.
Mullins noted that if the tariffs are found unconstitutional, the administration has other legal options to continue imposing tariffs. This uncertainty could affect sourcing for imports into the U.S. throughout 2026.
