Will American companies get tariff refunds after the Supreme Court decision? What we know so far.

MarketWatch

by Robert Schroeder

February 20, 2026

AI-Generated Deep Dive Summary

The U.S. Supreme Court recently ruled that most of President Donald Trump’s tariffs were unlawful, leaving a critical question unanswered: Will companies receive refunds for the tariffs they paid? The court determined that Trump exceeded his authority under the International Emergency Economic Powers Act when imposing these levies on global trading partners. While some sector-based tariffs remain in place, others have been struck down, raising concerns about the financial impact on businesses and consumers. The tariffs in question were primarily aimed at China but also affected other countries. Companies had paid billions in tariffs under the assumption that they were lawful. The ruling has created uncertainty about whether these payments will be refunded. For now, there is no clear mechanism for refunds, as legal processes are likely to determine eligibility and distribution. Business groups have expressed frustration over the lack of clarity. They argue that waiting years for a resolution could harm businesses already grappling with economic challenges. Companies are eager for answers, as refunds or compensations could alleviate financial burdens but require swift action to prevent further economic strain. This situation matters significantly to readers interested in finance due to its potential impact on trade relations and corporate profitability. The outcome could influence U.S. trade policy moving forward, affecting industries reliant on international commerce. For businesses, the uncertainty underscores the importance of understanding legal and regulatory developments to manage financial risks effectively.

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Originally published on MarketWatch on 2/20/2026