Even after the Supreme Court ruled the bulk of President Donald Trump’s illegal, U.S. consumers may still be paying for the levies.
A report published on Monday from the Cato Institute, a libertarian policy thinktank, revealed that as the $175 billion in tariff revenue sits in the Treasury, it is accruing interest. The longer it takes for this money to be refunded to U.S. importers who paid the duties over the last year, the more interest piles up—to the tune of $700 million per month that American taxpayers will have to shoulder, according to the report.
