Rivian is seeking a full refund of Trump-era tariffs, joining numerous companies in similar legal action. The automaker expects to recover tens of millions of dollars if successful.
Rivian filed suit against the US government to recover tariffs imposed during the Trump administration. The company joins a growing list of businesses challenging the tariff regime through the courts.
In April, Rivian CFO Claire McDonough indicated the company expected refunds in the "tens of millions of dollars" range. The electric vehicle manufacturer has been subject to various tariffs affecting components and materials used in production.
The lawsuit represents one of many corporate challenges to Trump-era trade policies. Companies across sectors—from automotive to technology to manufacturing—have pursued similar refund claims, arguing the tariffs were imposed without proper legal justification or review.
Rivian's case will test whether companies can recover duties already paid while tariffs remain in effect or have been modified under subsequent administrations.
Bain Capital and LY Corp. are considering a joint offer to acquire Japanese online marketplace Kakaku.com, escalating a bidding battle against private equity firm EQT AB.
Contemporary Amperex Technology Co. Ltd., the world's largest EV battery maker, reported a 42% increase in first-half profit, driven by surging demand for energy-storage systems.
The US Office of the Comptroller of the Currency denied Wise's application to establish a national trust bank, citing conflicts with updated Federal Reserve policies. Wise's London-listed shares dropped 10% following the announcement.
Patreon has laid off 20% of its staff, according to a memo from company leadership. The creator platform cited market changes and the need to adjust its cost structure.