The Indicator from Planet Money

Can I get my tariff money back now?

February 21, 2026

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  • The Supreme Court struck down a significant portion of President Trump's tariffs in a 6-3 decision, ruling that the International Emergency Economic Powers Act (IEPA) did not grant the President the authority to impose tariffs, as that power is constitutionally vested in Congress. 
  • Despite the ruling invalidating the IEPA tariffs, President Trump immediately announced a 'plan B' to impose a 10% global tariff under a different statute, Section 122, suggesting tariffs will likely continue under new legal justification. 
  • The possibility of tariff refunds for the over $100 billion collected under the struck-down IEPA tariffs remains highly uncertain, with legal experts and even the President acknowledging that the process will likely require years of litigation. 

Segments

Supreme Court Tariffs Decision
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(00:00:19)
  • Key Takeaway: Supreme Court struck down major Trump tariffs in a 6-3 ruling based on statutory authority.
  • Summary: The Supreme Court invalidated a large portion of tariffs imposed by the Trump administration. The ruling centered on the argument that the International Emergency Economic Powers Act (IEPA) did not grant the President the authority to levy tariffs. This decision was met with disappointment by President Trump, who criticized members of the court.
Legal Basis Breakdown
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(00:01:47)
  • Key Takeaway: IEPA’s authority was deemed insufficient for unilateral tariff imposition.
  • Summary: Trade lawyer Ted Murphy explained that the government relied on IEPA, arguing that ‘regulate and importation’ implied tariff power, despite the word ’tariff’ being absent. The Court focused on the powers granted, concluding that the Constitution reserves tariff imposition to Congress, requiring explicit delegation for the executive branch to act.
Future Tariffs and Refunds
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(00:06:06)
  • Key Takeaway: Tariffs are expected to continue under different statutes, but refund eligibility is legally unknown.
  • Summary: Tariffs are not expected to disappear entirely, as the President can rely on other statutes like Section 122, which Trump announced he would use. However, the government faces uncertainty regarding the $100 billion collected under the invalidated IEPA tariffs, and whether businesses can secure refunds is currently unresolved.