The US Supreme Court invalidated most of President Trump's tariffs imposed in 2025 under the International Emergency Economic Powers Act, including reciprocal tariffs and baseline duties. This ruling marks a significant setback for the administration but provides relief to trading partners and businesses. Trade lawyers emerge as major beneficiaries, as companies seek refunds through lengthy legal processes potentially lasting years. Democratic lawmakers now demand immediate refund checks to households and businesses harmed by the illegal tariffs. The Supreme Court did not explicitly address refund mechanisms, leaving this contentious issue unresolved. Trump indicated the government will not provide immediate refunds, setting the stage for prolonged litigation.
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