The Indicator from Planet Money What would it mean to actually refund the tariffs?
19 snips
Dec 2, 2025 
Ted Murphy, a partner at Sidley Austin and expert on tariffs, dives into the complex world of tariff refunds. He discusses a significant Supreme Court case that could deem several of Trump’s tariffs illegal, potentially triggering a return of billions. Ted clarifies that it’s the importers of record who face the tab, not consumers directly. He explains that refunds may not be automatic and outlines the intricate process that importers must navigate to contest tariffs, emphasizing the importance of meticulous record-keeping.
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Supreme Court Could Void Major Tariffs
- The Supreme Court could declare several of Trump's tariffs illegal, forcing billions to be returned to payers.
- That ruling would change both the legal basis for tariffs and the Treasury's ability to keep that revenue.
Lawyers Flooded With Tariff Questions
- Ted Murphy's inbox has been flooded with clients worried about tariffs since before last November's election.
- He says recent Supreme Court oral arguments have made many clients cautiously optimistic about refunds.
Emergency Powers Replaced Congressional Role
- Presidents historically need Congress to set tariffs, but the Trump administration used emergency powers instead.
- The Court is deciding if that emergency-power route gives the president too much tariff authority.