"Businesses face a new wave of uncertainty after the Supreme Court struck down tariffs imposed by President Donald Trump under an emergency powers law and Trump vowed to work around the ruling to keep his tariffs in place. The Trump administration says its tariffs help boost American manufacturers and reduce the trade gap. But many U.S. businesses have had to raise prices and adjust in other ways to offset higher costs spurred by the tariffs."
"It remains to be seen how much relief businesses and consumers will actually get from Friday's ruling. Within hours of the court's decision, Trump pledged to use a different law to impose a 10% tariff on all imports that would last 150 days, and to explore other ways to impose additional tariffs on countries he says engage in unfair trade practices."
"Efforts to claw back the estimated $133 billion to $175 billion of previously collected tariffs now deemed illegal are bound to be complicated, and will likely favor larger companies with more resources. Consumers hoping for a refund are unlikely to be compensated. The fight against tariffs continues With Trump's unyielding position on tariffs, many business are braced for years of court battles."
The Supreme Court invalidated tariffs imposed under an emergency powers statute, prompting the administration to seek alternate legal authorities to maintain tariffs. The administration argues tariffs bolster domestic manufacturing and reduce the trade deficit. Many U.S. businesses have raised prices and adapted operations to absorb higher import costs. The administration proposed a temporary 10% tariff and signaled plans for additional measures, prolonging uncertainty. Recovering an estimated $133 billion to $175 billion in collected tariffs will be complex and likely favors larger firms; consumers are unlikely to receive refunds. Several companies have filed or joined lawsuits and expect prolonged litigation.
Read at ABC7 Chicago
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