The US Supreme Court is about to rule on the Trump Tariffs case

**U.S. Supreme Court to Rule Soon on Legality of Trump-Era Global Tariffs** (Jan. 8) — The U.S. Supreme Court is expected to issue a ruling soon on whether global tariffs imposed by the Trump administration under the International Emergency Economic Powers Act are legal. If the court strikes down the tariffs, importers could seek refunds of up to $150 billion in tariffs already paid to the U.S. government. A critical challenge, however, is uncertainty around the refund process: Even if successful, businesses widely anticipate the Trump administration will delay or deny refunds. While U.S. Customs has hinted at rolling out an electronic refund system, the fully automated process remains unclear. To proactively protect their interests, major importers including Costco have filed preemptive lawsuits. Small and medium-sized enterprises (SMEs), meanwhile, are selling their refund claims on the secondary market to hedge funds at steep discounts (pennies on the dollar). Experts advise companies to immediately organize and verify detailed records of all tariffs paid, and be ready to file refund claims promptly after the ruling to navigate what could be years of complex legal and administrative procedures.