US could refund $175B in tariffs if Trump admin loses Supreme Court case

The U.S. government could be forced to refund over $175 billion in tariff revenue if the Trump administration loses a Supreme Court case concerning the legality of its reciprocal tariffs, Walter Bloomberg reported, citing a study by the Penn-Wharton Budget Model. The estimate is based on detailed modeling of tariffs by item and country. Should the court invalidate the tariffs, importers would be able to request refunds from U.S. Customs and Border Protection (CBP) for duties paid since early 2025. The potential refund amount exceeds the combined annual budgets of the U.S. Department of Transportation and the Department of Justice.