Supreme Court's Tariff Decision Could Cost U.S. $168B
Update: 2025-12-12
Description
The U.S. government may owe businesses up to $168 billion if the Supreme Court rules against the previous administrations use of emergency powers to impose tariffs. The government collected $259 billion from these tariffs, but many small businesses have already suffered from higher import costs, leading to job losses and missed hiring opportunities. The Supreme Court questioned the legality of these tariffs under the International Emergency Economic Powers Act, as it doesnt mention the word tariff. Economists argue that removing tariffs would boost the U.S. economy, despite a temporary increase in the national debt. The current effective tariff rate in the U.S. is at 16.8%, the highest since 1935.
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