Courts have ruled against President Trump’s sweeping tariffs, and if the Supreme Court agrees, importers—not consumers—could receive billions in refunds.
President Donald Trump’s sweeping tariffs face a decisive test after two courts ruled they were imposed illegally, raising the possibility that companies could receive massive refunds if the Supreme Court strikes them down.
“We’re talking about hundreds of billions of dollars potentially in refunds affecting thousands and thousands of importers,” said trade lawyer Luis Arandia.
The tariffs, imposed under the 1977 International Emergency Economic Powers Act, targeted nearly all trading partners. A trade court in New York and a federal appeals court have found Trump exceeded his authority, though the ruling is paused until October as the administration appeals.
Refunds would go only to importers, not consumers who paid higher prices. “It’s the importer of record that is legally liable for paying tariffs and duties,’’ Arandia noted.
The administration has warned that repaying tariff revenues could spark a financial crisis, with Trump saying refunds “would be 1929 all over again, a GREAT DEPRESSION!”
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