The Supreme Court struck down a bunch of Trump's tariffs. Now what?

The Supreme Court's ruling against President Trump's tariffs, imposed under the International Emergency Economic Powers Act (IEPA), is the central focus. The ruling, based on the court's interpretation that IEPA doesn't authorize such broad tariffs, raises questions about refunds for businesses and consumers. Customs lawyer Maureen Thorson outlines three potential refund avenues: post-summary corrections, lawsuits against the government, or a government-created refund process. A market for tariff refunds has emerged, with hedge funds buying potential claims from companies seeking immediate cash. Despite this ruling, Trump announced a new 10% tariff under Section 122, a law never previously used, leading to uncertainty and potential future lawsuits, impacting businesses like Storytime Toys, whose strategy has been significantly affected by tariff volatility.