Here is who could stand to benefit from the SCOTUS decision on Trump's tariffs, and who could lose out

"The Trump administration's cornerstone policy just suffered a major setback - but it's not bad news for everyone. In a 6-3 decision, the Supreme Court ruled on Friday morning that the president does not have the authority to impose tariffs using the International Emergency Economic Powers Act. Most of the tariffs Trump imposed in 2025, including the "reciprocal" tariffs and the 10% baseline duties, made under IEEPA, have now been ruled illegal."

"Trade lawyers Businesses, large and small, that want to get tariff money back from the US government will need lawyers. Trump made it clear on Friday that the US government will not make immediate refunds despite the ruling that the IEEPA tariffs are illegal. That is because the Supreme Court did not explicitly state that the administration needs to make refunds. The matter could "end up in court for the next five years," Trump said in his fiery remarks."

"Joyce Adetutu, an international trade lawyer at Vinson & Elkins, told Business Insider that a refund of this magnitude is "unprecedented" and that the process will likely be "daunting." "Preparing for refunds, potential litigation, and contract interpretations will likely be a heavy lift going forward," Adetutu said. Adetutu added that importers should immediately gather documentation, be ready to file protests, and plan for litigation costs."

The Supreme Court held 6-3 that the president lacks authority under the International Emergency Economic Powers Act to impose the 2025 tariffs, including reciprocal and 10% baseline duties, rendering most IEEPA-based tariffs illegal. The ruling does not explicitly require the administration to issue refunds, prompting the administration to refuse immediate repayments and raising prospects of lengthy litigation over refunds and contract disputes. Importers and businesses are advised to gather documentation, file protests, and prepare for litigation costs. International trade attorneys expect heavy demand and significant fees to pursue refunds. Political figures are calling for immediate refund checks to households.

Read at Business Insider