Ana Swanson

And so that's a big cost for companies.

It's hard to describe just how complicated the Trump's tariff system was before the Supreme Court ruling.

There were different rates for different countries, different products.

Now that is all gone.

It's replaced with an entirely very different set system of tariffs.

There's a 150-day clock running on that with big questions about what is going to replace it.

And all that uncertainty is just it's bad for investment.

I mean, companies are not going to want to invest billions of dollars in a factory that will take years to build if tariff policy is going to change dramatically in the next few months.

Yeah, I think it's pretty clear that they're not going to be very enthusiastic about paying that money back.

The question is how, you know, cooperative they are with any eventual court order.

It will really be up to the administration to set up this system for refunds.

And that could be, you know, it could be an easy process if they wanted to make it that way, or it could be kind of a nightmare for companies.

You know, honestly, I wouldn't be surprised if it's months or even years by the time this process plays out in court.

By the time this system is set up and companies actually get that money in their hands.

Well, it's still kind of up in the air.

So countries have agreed to major concessions over the last few months.

The administration has made initial trade deals that in a lot of cases are kind of vague, but, you know, still deals with dozens of countries in which they've agreed to drop tariffs, make big investments in the United States.

And now the tariffs that underlie those are suddenly gone.

But you already see some hesitation on the part of other countries, you know, that have agreed to these terms.

So you had officials in the EU saying recently that they might pause the ratification of their trade deal.