In a 6-3 decision, the US Supreme Court ruled against some of Donald Trump’s tariffs on imports. The Court’s decision specifically addressed the use of the International Emergency Economic Powers Act (IEEPA) in levying these tariffs, which were initially implemented under the 1977 law meant for national emergencies originating outside the US. The ruling may lead to potential refunds for importers, though the process remains uncertain, and consumers are unlikely to see any direct repayments. Some tariffs, not covered by IEEPA, such as those on steel and aluminum, remain unaffected. The Trump administration plans to pursue alternative avenues to implement tariffs, despite the Court’s decision. Businesses and importers face ongoing challenges, and groups like the National Retail Federation urge for an efficient refund process. The decision marks a setback for Trump’s trade policies, but the long-term impact on consumers and businesses is still unfolding, with expectations of a prolonged high tariff environment.
