Small business owner Victor Schwartz of VOS Selections challenged President Trump's global tariffs in court and won a major victory.

Small business owner Victor Schwartz of VOS Selections challenged President Trump's global tariffs in court and won a major victory. The Supreme Court ruled 6-3 that Trump exceeded his legal authority under the International Emergency Economic Powers Act, dealing a significant blow to the administration's aggressive trade policy. This landmark decision has opened the door for refund claims potentially worth over 175 billion dollars on more than 133 billion dollars in tariffs collected. While major corporations remained on the sidelines, it was small business owners like Schwartz who led the fight against tariffs. The ruling benefits all businesses, with retailers like Costco already lining up for government refunds. Economists view this as among the most significant Supreme Court decisions in American history and represents Trump's biggest legal setback since returning to office.