Tariff dividend checks were always a long shot, and tariff refund checks aren't likely. But consumers may yet get some of their money back.

The U.S. Supreme Court’s February 20, 2026 decision invalidating tariffs imposed under the International Emergency Economic Powers Act (IEEPA) may end up doing more than reshaping trade policy. It may also create a very practical—and potentially expensive—question in mergers and acquisitions:

The change surprised executives and foreign leaders, who had been expecting the 15 percent rate the president announced on Saturday.

Anyone who paid the taxes should get reimbursed, but the high court did not address how. Business owners wonder if they'll need lawyers, brokers, money — or luck.

While the SCOTUS Ruling on Tariffs could trigger up to $175 billion in refunds, the consensus is that most retailers will not see these refunds anytime soon.

Despite the U.S. Supreme Court ruling to strike down President Donald Trump's sweeping taxes on imports, on Monday he threatened countries to stick to their current tariff deals.

“I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been ‘ripping’ the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” Trump wrote in a social media post on Saturday.