The Supreme Court has struck down President Donald Trump’s “emergency” tariffs — but the real fight is only beginning.
In a landmark ruling, the Supreme Court of the United States declared that the administration exceeded its authority under the International Emergency Economic Powers Act. The message was clear: the executive branch cannot invent tariff power under an emergency statute that doesn’t grant it.
But here’s the explosive question no one is answering: What happens to the $175 BILLION already collected?
According to U.S. Customs and Border Protection, collections had already reached $133.5 billion by mid-December 2025 — and economists at the University of Pennsylvania estimate the final total climbed to roughly $175 billion before the tariffs were halted.
If refunded, this would be one of the largest mandated returns of tax revenue in U.S. history.
Yet the Court said nothing about refunds.
Now nearly 2,000 importers — including FedEx — have filed lawsuits at the United States Court of International Trade. Roughly 600,000 American importers could be affected, many of them small and mid-sized businesses without the resources to wage prolonged legal battles.
Will refunds be automatic? Or will businesses have to fight for years in court?
With new tariffs already being introduced under different legal authorities, this isn’t just a legal cleanup. It’s a massive economic and political showdown.
The Supreme Court may have ended one tariff regime — but the $175 billion battle is just getting started.
Watch now for the full breakdown of what happens next, who wins, who loses, and why this could reshape U.S. trade policy ahead of the election.
