Trump Tariffs
Ships are docked at the Port of Long Beach Friday, Feb. 20, 2026, in Long Beach, Calif.
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The Supreme Court on Friday struck down President Donald Trump’s biggest and boldest tariffs. But the justices left a $133 billion question unanswered: What is going to happen to the money the government has already collected in import taxes that have now been declared unlawful? Companies have been lining up for refunds ahead of the court’s decision. But consumers, hoping for a refund on higher prices they paid when companies passed along the cost of the tariffs, are unlikely to be compensated. And the way forward is unclear and could prove chaotic.
China has urged the United States to stop imposing one-sided tariffs. South Korea’s trade minister says the Supreme Court’s ruling against President Donald Trump’s tariffs has increased uncertainty for businesses. Financial markets took the news in stride, though, as most Asian share benchmarks advanced. While the court's decision may lower tariffs on some countries' exports to the U.S., it has raised questions about Trump's future moves, potentially disrupting arrangements worked out in trade negotiations since he announced sweeping tariffs on dozens of countries in April 2025. U.S. Trade Representative Jamieson Greer says the U.S. will stand by its trade deals and expects its partners to do the same.
WASHINGTON (AP) — The Supreme Court’s stunning rebuke of President Donald Trump’s most sweep…
