US Supreme Court Declares Trump Tariffs Illegal: Billions in Refunds Now in Play

The U.S. Supreme Court delivered a landmark ruling on Friday, declaring that many of former President Donald Trump’s tariffs imposed under the International Emergency Economic Powers Act (IEEPA) are illegal. The decision opens the door for companies to seek billions of dollars in refunds, though the path forward is expected to be complicated.Importers, both large and small, had already paid substantial amounts in tariffs and secured billions more in bonds and collateral to guarantee payment to U.S. Customs and Border Protection (CBP). With the Supreme Court’s ruling, many companies are now eligible to request refunds, which collectively could reach hundreds of billions of dollars.However, trade attorneys warn that the refund process may face significant delays, depending on how courts and CBP handle the logistics.