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Why US tariff refunds worth $166 billion won't repair the damage to trade
The US Supreme Court struck down Trump's tariffs, but businesses that cancelled orders, lost customers, or stopped US shipping cannot recover those losses.
The US Supreme Court ruled 6-3 in February 2026 that Trump's tariffs exceeded presidential authority, triggering US$166 billion in refunds. But the money goes to importers, not consumers, and most businesses won't pass it on.
Small US importers each paid an average of US$306,000 extra in tariffs. Trump has already launched replacement levies, including a 12.5% duty on Australian exports from July 24.
- $166 billion
- Total refunds
- $85 billion
- Already distributed
- February 20, 2026
- Court decision date
- July 24, 2026, 12.5%
- New tariff starts
Why it mattersAustralian businesses face delays getting refunds via Australia Post, and a new 12.5% tariff on Australian exports kicked in on July 24.
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