Supreme Court Strikes Down Trump Tariffs; Businesses Seek Refunds

The U.S. Supreme Court ruled on February 20, 2026, that President Donald Trump lacked authority to impose sweeping tariffs enacted last year under the International Emergency Economic Powers Act. While the decision offers legal vindication, it does not mandate refunds for the billions of dollars collected, leaving small businesses facing a prolonged battle for restitution. President Trump announced plans to implement a 10% global tariff using the 1974 Trade Act, stating refund disputes could last five years. Treasury Secretary Scott Bessent indicated the collected revenue remains "in dispute," suggesting refunds are unlikely soon. Small businesses, including Greenbar Distillery, which invested $400,000 in automation to offset costs, face irreversible financial impacts despite the ruling.