• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

2

Current price of oil as of July 13, 2026

3

Current price of silver as of Monday, July 13, 2026

1

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

2

Current price of oil as of July 13, 2026

3

Current price of silver as of Monday, July 13, 2026
LawTariffs

The Trump administration is looking for ways to keep revenue from tariffs that were ruled illegal, after telling courts that refunds would be easy

Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
February 27, 2026, 11:44 AM ET
At the Long Beach Container Terminal, Jan. 14, 2026.
At the Long Beach Container Terminal, Jan. 14, 2026.Allen J. Schaben—Los Angeles Times/Getty Images
Add Fortune on Google for similar content.

The Supreme Court ruled that President Donald Trump’s global tariffs were illegal, but that’s not going to stop the administration from holding on to the money it’s already collected.

Recommended Video

Sources told Politico officials are weighing various ideas, including discouraging companies from demanding refunds, arguing revenue collected previously is retroactively legal under new tariffs, and letting claimants skip to the front of the line if they give up a portion of the funds they’re owed.

The White House did not immediately respond to Fortune’s request for comment.

Last Friday, the top court struck down tariffs invoked under the International Emergency Economic Powers Act, upholding decisions from lower courts. Hours later, Trump announced a fresh set of global levies under a different law as well as investigations that are likely to lead to longer-term duties.

But the Supreme Court didn’t detail a process for refunding tariff revenue, leaving it to the U.S. Court of International Trade to figure out. Meanwhile, there are now about 2,000 refund claims for more than $170 billion in IEEPA tariff revenue.

Treasury Secretary Scott Bessent already signaled the administration’s stance on refunds, telling Fox News last Friday refunds would be the “ultimate corporate welfare.” And speaking at the Economic Club of Dallas in the immediate aftermath of the ruling, he said the issue “could be dragged out for weeks, months, years.”

On the IEEPA revenues, he said: “I got a feeling the American people won’t see it,” though he added days later he will follow the court’s direction on refunds.

And soon after the Supreme Court ruling, Trump predicted refunds will “get litigated for the next two years.”

Trump attempted to use the IEEPA for the first time as a vehicle for imposing tariffs when he unveiled his “Liberation Day” duties last year.

The tariffs were quickly challenged in court. While litigating the case last spring, Justice Department lawyers repeatedly acknowledged that if the tariffs were deemed unlawful, then the government would issue refunds to the plaintiffs. 

The DOJ also made those assurances to argue that courts shouldn’t grant plaintiffs emergency relief from the tariffs, and instead let them stand during the legal proceedings.

In a Washington Post op-ed published on Tuesday, the lawyer who argued the case before the high court on behalf of plaintiffs called out the administration for its hesitancy over refunds.

Neal Katyal, a partner at Milbank LLP and former acting U.S. solicitor general in the Obama administration, said judges relied on the government’s suggestion that tariff harm was temporary and repairable.

“The government cannot tell courts that refunds are simple and inevitable when seeking relief—and then imply they are complex and distant when the time comes to pay,” he wrote. “The rule of law does not operate on shifting premises.”

Katyal also pointed out most of the tariff revenue is owed to Americans. In fact, a New York Fed study found U.S. consumers and companies have paid 90% of Trump’s import taxes, despite his claims other countries are shouldering the burden.

Ahead of the Supreme Court decision, companies like Costco that paid the levies filed lawsuits to help ensure they get their money back. And FedEx became the first major company to sue for a full tariff refund with a complaint on Monday in the U.S. Court of International Trade.

The government has paid refunds after similar cases in the past. The Customs and Border Protection agency also has a process in place for refunding duties when importers can prove an error. 

But trade lawyer Joyce Adetutu, a partner at the Vinson & Elkins law firm, told the Associated Press: “The government is well positioned to make this as difficult as possible” for importers seeking refunds. 

“I can see a world where they push as much responsibility as possible onto the importer,” she added, speculating they may be forced to go to court to get their money back.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Author
Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Law

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Law

Jony Ive (left), formerly with Apple and now with OpenAI, standing next to Laurene Powell Jobs, the widow of Apple founder Steve Jobs, at an event in 2022.
AIOpenAI
Stolen laptops, data breaches, secret moles, and recruiting-as-espionage. Here are the wildest claims in Apple’s lawsuit against OpenAI
By Emily ForliniJuly 13, 2026
9 hours ago
Elon Musk and Sam Altman are accusing each other of scamming investors as SpaceX and OpenAI jockey to lead AI revolution
AIBillionaires
Elon Musk and Sam Altman are accusing each other of scamming investors as SpaceX and OpenAI jockey to lead AI revolution
By Marco Quiroz-GutierrezJuly 13, 2026
9 hours ago
usa
North AmericaWealth
America pays workers just 27% of what its wealth allows — the worst in the OECD
By Stephen Bagwell, Susan Randolph and The ConversationJuly 13, 2026
9 hours ago
dan
PoliticsElections
Meet Dan Sullivan, the retired schoolteacher running for office who insists he’s not trolling sitting Senator Dan Sullivan
By Becky Bohrer and The Associated PressJuly 13, 2026
12 hours ago
DOJ investigating allegations against UAW President Shawn Fain
LawDepartment of Justice
DOJ investigating allegations against UAW President Shawn Fain
By David Welch and BloombergJuly 12, 2026
1 day ago
World Cup bets on prediction markets may get tax edge over gambling
Lawgambling
World Cup bets on prediction markets may get tax edge over gambling
By Caitlin Reilly and BloombergJuly 12, 2026
2 days ago

Most Popular

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
Innovation
The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
By Sasha RogelbergJuly 12, 2026
2 days ago
Current price of oil as of July 13, 2026
Personal Finance
Current price of oil as of July 13, 2026
By Joseph HostetlerJuly 13, 2026
19 hours ago
Current price of silver as of Monday, July 13, 2026
Personal Finance
Current price of silver as of Monday, July 13, 2026
By Joseph HostetlerJuly 13, 2026
19 hours ago
Trump embraces Australian retirement system backed by Larry Fink
Personal Finance
Trump embraces Australian retirement system backed by Larry Fink
By Brianna Sosa and BloombergJuly 12, 2026
1 day ago
Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich
Big Tech
Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich
By Marco Quiroz-GutierrezJuly 12, 2026
2 days ago
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
Success
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
By Preston ForeJuly 6, 2026
8 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.