When the Supreme Court struck down President Donald Trump’s tariffs two months ago, many companies rejoiced at the prospect of returning to pre-tariff prices and the possibility of getting a refund back from the government. However, the ruling may have also created a $166 billion problem.
U.S. importers—who have shouldered the brunt of the tariffs—are now waiting to receive an estimated $166 billion in refunds on the levies. But, battered by supply-chain woes as a result of the import tax, hiked energy prices thanks to the Iran war, and nervous consumers bracing for recession, many large companies are scrambling for cash.
