Tariff turmoil. Last week, the Supreme Court said President Donald Trump's tariffs were illegal. But it didn't say anything about the roughly $175 billion in tariffs that have already been collected—illegally—from businesses. Those businesses want refunds. Some 900 claims have already been filed, according to the Liberty Justice Center, which has advocated in court for businesses impacted by the tariffs. An analysis by The Wall Street Journal says the number is more like 1,800.
So will the businesses get their money back? We'll know soon enough. Late yesterday, the federal circuit ordered the administration to respond to the Liberty Justice Center's motion by Friday. If you don't have a calendar handy, that's tomorrow.
