Supreme Court Deliberates Legality of Trump’s Tariffs Amid Potential $1 Trillion Refund Scenario

The U.S. Supreme Court is weighing the validity of former President Donald Trump's tariffs imposed on over 100 countries under the International Emergency Economic Powers Act (IEEPA). Legal experts describe the outcome as unpredictable despite the court's conservative majority. A ruling against the tariffs could trigger refunds totaling $750 billion to $1 trillion by 2026—the projected cumulative collection amount.

Treasury Secretary Scott Bessent highlighted the staggering financial implications during earlier proceedings. The U.S. has already collected $90 billion in reciprocal tariffs this year alone. Lower courts previously ruled the IEEPA doesn't grant presidents unilateral tariff authority, prompting the TRUMP administration's appeal.

"This will rank among the most consequential decisions in Supreme Court history," Trump declared on Truth Social. The ruling's timing remains uncertain, but its economic ramifications could reverberate through global markets.