Supreme Court Decision Could Force $175 Billion in Tariff Refunds
A University of Pennsylvania analysis reveals that over $175 billion in tariff revenue collected under Trump’s emergency trade powers could be refunded if the Supreme Court rules against the administration. The potential refund amount would exceed the annual budgets of multiple federal agencies combined.
WASHINGTON – Federal officials face the possibility of refunding more than $175 billion in collected tariff revenue if the Supreme Court strikes down President Trump’s emergency trade duties, according to new calculations from University of Pennsylvania researchers released Friday.
The analysis, conducted by the Penn-Wharton Budget Model at Reuters’ request, examined tariff collections made under the International Emergency Economic Powers Act (IEEPA) since Trump began implementing these measures in February 2025.
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