Tariffs have been a core part of President Donald Trump's economic strategy, with frequent announcements and revisions since the start of his second term.
He has argued that these taxes on imported goods and services are crucial for reducing the United States' trade deficit and enhancing U.S. manufacturing.
But Trump’s tariff policy has entered a new phase following a landmark United States Supreme Court ruling that struck down many of his broadest import taxes.
While some tariffs remain in place, others are being unwound, and a high-stakes question is emerging for businesses and importers alike. Who could get tariff refunds and when? Here’s more to know about where things stand.
Trump tariffs: Where things stand now
As of early April 2026, the U.S. tariff landscape is no longer defined by a single sweeping policy. Instead, it has become a patchwork of active tariffs, invalidated measures, and potential replacements following the Supreme Court’s February 20, 2026 ruling.
That 6-3 decision found that the Trump administration overstepped its authority by using the International Emergency Economic Powers Act (IEEPA) to impose broad, across-the-board tariffs on imports.
Those "reciprocal tariffs," first rolled out in April 2025, had applied to dozens of countries and hundreds of categories of goods.
While the ruling immediately disrupted that framework, it did not eliminate tariffs altogether, and the Trump administration is already exploring new ways to replace or rework them.
Which tariffs were blocked by the Supreme Court
The Supreme Court decision primarily affects the broad global tariffs introduced in April 2025, often referred to as the “Liberation Day” tariffs.
As a result:
- Sweeping “reciprocal tariffs” applied to most countries are no longer enforceable
- Tariffs calculated using trade deficits as justification have been invalidated
- Federal agencies are reviewing which tariffs must be rolled back and how to implement the decision
In practice, that rollback is ongoing. Some tariffs may remain temporarily in place while regulators and courts sort out compliance.
What tariffs are still in effect?
Despite the Court's decision, several major tariffs remain active because they rely on different legal authorities.
Category |
Tariff Rate |
Status |
Notes |
|---|---|---|---|
Steel and Aluminum (Section 232) |
Up to 50% |
In effect |
Applies broadly, with limited exemptions (e.g., UK) |
Auto and Auto Parts |
25% |
In effect |
Some exemptions for USMCA-compliant vehicles and parts |
Country-Specific Tariffs |
Varies |
In effect |
Includes tariffs tied to trade disputes and national security concerns |
China Tariffs (Selected Measures) |
Varies |
Partially in effect |
Some tariffs reduced or paused under trade agreements |
Other Sector Tariffs (e.g., copper, select goods) |
Varies |
In effect / Pending |
Some announced tariffs are still being implemented or reviewed |
What happens next?
The Trump administration has said that tariffs will remain central to its economic strategy, but the legal path forward is changing.
One option under consideration is Section 122 of the Trade Act of 1974, which allows temporary tariffs of up to 15% for 150 days to address trade imbalances.
Officials are also expected to:
- Expand the use of national security tariffs (Section 232) to additional industries
- Negotiate more country-specific trade agreements with tailored tariff rates
- Continue using tariff threats as leverage in ongoing trade talks
The result could be a shift away from blanket tariffs toward a more targeted — but still arguably aggressive — approach.
IEPPA tariff refunds: Who could get money back?
One of the biggest unresolved issues is what happens to the billions of dollars already collected under tariffs that the Supreme Court has now invalidated.
Are tariff refunds actually happening? Possibly, but not automatically.
Because the Court ruled that certain tariffs were unlawfully imposed, businesses that paid those duties may be entitled to refunds. Estimates suggest that more than $100 billion could ultimately be at stake.
However, no broad refund program has been finalized, and the process is expected to be complex.
Refund eligibility will likely depend on several factors, including:
- Whether the tariffs were imposed under IEEPA authority
- Whether the importer filed a legal challenge or preserved a claim
- Documentation showing payment of tariffs tied to invalidated measures
That means not all businesses that paid tariffs would necessarily receive refunds.
Refunds, if issued, will likely be handled through a still-developing process involving U.S. Customs and Border Protection (CBP), importer claims, and possibly further court rulings, with Congress also able to step in.
There’s no clear timeline, and the process could take months or longer, depending on legal challenges, agency action, and the volume of claims, with billions of dollars at stake.
Tariff economic Iimpact: prices, inflation, and uncertainty
Even with some tariffs struck down, the broader economic effects are still unfolding.
Higher prices: Tariffs function as taxes on imports, often leading to higher costs for goods like cars, appliances, and furniture
Inflation pressure: Some economists warn that tariffs can contribute to broader price increases across the economy
Business uncertainty: Companies could delay hiring, investment, or expansion due to unclear trade policy
Mixed employment effects: Some domestic industries benefit from protection, while others that rely on imports face higher costs
Additionally, the inconsistent and historic nature of these tariff decisions has unsettled markets and caused confusion.
For example, on April 3 of last year, the U.S. stock market experienced its worst single-day decline since the pandemic during a sell-off following President Trump's tariff announcement.
Wall Street began using the term "TACO trade" (Trump Always Chickens Out) to describe the on-and-off impacts of tariffs on the market.
Meanwhile, many economists, former allies, and even some in his own party have argued that Trump’s tariff policies harm the U.S. economy by increasing costs for businesses and consumers, exacerbating inflation, and potentially slowing economic growth.
For example, in a CBS interview, investor and philanthropist Warren Buffett described tariffs as "an act of war, to some degree."
Trump's former Vice President, Mike Pence, posted on X (formerly Twitter), stated that the tariffs were "the largest peacetime tax hike in U.S. history."
Last year, in a Fox Business interview, Sen. Ted Cruz (R-Texas) said, "I'm not a fan of tariffs," adding, "If the result is our trading partners jack up their tariffs and we have high tariffs everywhere, I think that is a bad outcome for America."
In an interview around that same time, Sen. Rand Paul of Kentucky said, "I believe that economically, it's a misconception to think that tariffs will benefit the nation."
