When the Supreme Court struck down President Donald Trump’s tariffs last month, it left the door open  for an estimated $175 billion in refunds to the U.S. companies that paid the taxes on imported goods.

 

Some companies have pledged to pass on refunds to customers — possibly by lower prices — but consumers who appeal to the Court of International Trade on their own will likely be disappointed, legal experts say.

 

Businesses are more likely to win the suits they file, according to experts, but it may take a long time to see that money given the Trump administration’s resistance to providing refunds. 

 

During his second administration, President Trump has imposed tariffs ranging from 10% to 50% on countries around the world. Tariffs are a tax that U.S. companies, not other countries, have to pay. To compensate for that lost revenue, they can either raise prices or eat the costs. American families have each paid an average of more than $1,700 in tariff costs over the past year, according to a February report from the U.S. Senate’s Joint Economic Committee. 

Prediction markets like Kalshi and Polymarket take in billions of dollars in bets each year on all manner of topics, but without the regulations that govern gambling. Recently, prediction market bets involved conflicts in Iran, Ukraine and Venezuela. Last month, Israeli authorities arrested two people accused of using classified military information to profit on Polymarket. U.S. regulators said Thursday they're proposing new rules for prediction markets aimed at preventing manipulation, particularly in sports.  

And the award for best response to a controversial remark goes to the Seattle and Hawai’i opera houses! After Oscar-nominated actor Timothée Chalamet suggested that opera and ballet are irrelevant, the arts venues used the controversy to boost ticket sales.