Gavin Bade

Basically, he has a more expansive view of what the executive branch should be able to do with economic power.

So not entirely surprising that the justices who dissented decided to do that in this case.

The majority opinion does not explicitly address the issue of refunds, right?

Typically, in a smaller tariff case, if the government takes some tariff money from a company and then it's ruled that it was improper to do so, there's a whole process that you go through with customs to get that tariff money back.

Those processes are probably not adequate for just this scale for hundreds of billions of dollars of tariff revenue that's come in.

I would be surprised if that were the case just because there's obvious material harm that these companies can show.

And there have been thousands of claims already filed in court by these companies.

They've preemptively gone and filed in federal court and said, if this decision comes down, I want to just lodge my claim for a refund now because I've been materially harmed by this.

Exactly.

Really, it could be a pretty big windfall for a lot of firms because if you think about it, they have adjusted their pricing to react to these tariffs.

And now, oh, if we get all that tariff money back, they probably won't adjust their prices downward.

That allows for tariffs up to 15% for up to 150 days

And that law is to address persistent trade imbalances.

So the type of trade deficit issues that Trump doesn't like, he could instantly put these tariffs in place under Section 122 up to 15%, up to 150 days.

That is what is going to happen in the short term, is just to reconstitute some of these tariffs.

Just put that in really quickly.

And then in those 150 days, you use that time to issue new tariff investigations under more lasting legal authorities.

Ideally, I think they would love to pass a law that gave them the IEP of tariff authority explicitly.

I don't think you can see that pass Congress right now, though.

Yeah, even if Republicans aren't willing to pop their head up and say that they don't like the tariffs, a lot of them do not.