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flag The Supreme Court may rule on Trump’s emergency tariff powers, potentially ordering $133.5B in refunds if deemed illegal.

flag The Supreme Court is expected to rule soon on the legality of President Trump’s use of emergency powers to impose tariffs, which could lead to court-ordered refunds exceeding $133.5 billion if deemed unlawful. flag Tariffs, initially justified under the International Emergency Economic Powers Act, have raised nominal rates to about 18% from 2.5%, but the realized rate is closer to 11%, likely due to evasion, supply chain changes, and businesses absorbing costs. flag Despite Trump’s claim of $650 billion in revenue, official data shows $195 billion in customs duties collected in fiscal 2025. flag Inflation remains low at 2.7%, suggesting limited immediate price impacts, though analysts warn tariffs act as a tax on American consumers and businesses, increasing financial pressure without resolving affordability issues. flag The outcome could reshape U.S. trade policy and presidential authority.

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