Catenaa, Thursday, March 05, 2026- A US federal judge ruled that the US government must begin paying out more than $130 billion in tariff refunds to US businesses after the Supreme Court struck down Trump’s wide-reaching tariffs.
More than 2,000 companies, including well-known names like Costco and FedEx, have filed lawsuits seeking refunds for the illegal tariffs they paid.
The ruling from Judge Richard Eaton offered some clarity on the murky process to recoup tariff costs, which could take years to play out.
But while the refund proceedings get ironed out, President Trump has moved forward with imposing new 10% tariffs that could rise to 15% as soon as “sometime this week,” according to Treasury Secretary Scott Bessent.
The president’s new 10% tariffs under Section 122 of the Trade Act of 1974 allow the president to impose tariffs of up to 15% for up to 150 days to address trade deficits. After 150 days, Congress would need to approve any extension.
During that time, the administration is exploring other laws to implement levies, with Bessent saying that he expects tariff rates to “be back to their old rate within five months.”
Trump’s top trade adviser said US duties could exceed 15% for certain countries “where appropriate.”
Trade policy has been marked by uncertainty since the Supreme Court’s decision to invalidate Trump’s most sweeping global tariffs, and the president’s new 10% blanket tariff went into effect.
The European Union halted the ratification of its trade deal with the US, saying it needs “full clarity” on Trump’s next steps before proceeding.
In recent weeks, Trump has also made plans to roll back some tariffs on metals as he and his administration seek to battle an affordability crisis ahead of the midterm elections.
