Now that the Supreme Court has taken away the bulk of President Donald Trump’s tariff-wielding authority, what does that mean for your prices?
“Nothing,” said Stephanie Roth, chief economist at Wolfe Research.
That’s because Trump has other tariff levers to pull. The Supreme Court noted other authorities remain available to Trump, including the laws that permitted the administration to raise significant tariffs on steel, aluminum and other imports – all of which remain in place.
And even if the administration is ultimately required to refund companies that paid the overturned tariffs (a question that remains unsettled), that doesn’t mean you’ll get a refund for the higher prices you paid for sneakers, furniture or other items that grew more expensive because of Trump’s policies.
“Companies are highly unlikely to start trimming their prices as a result,” Roth said. “Walmart is not going to give you a check for the 15% tariff on sneakers you bought from them four months ago.”
Trump’s tariffs added $1,000 in tax expenses for the average US household in 2025, according to the conservative-leaning Tax Foundation.
Erica York, vice president of federal tax policy at the Tax Foundation, said the tariffs that remain in place will still amount to a $400 tax hike per household in 2026.
But she noted that many companies paid the tariffs and did not pass the bulk of the tariff costs on to consumers. So prices aren’t likely to fall because of the ruling Friday.
“There won’t be a dramatic overnight change in prices,” she said.