American companies face a new phase of uncertainty after the Supreme Court struck down tariffs imposed by Donald Trump under an emergency powers law. A few hours after this decision, the president announced his intention to circumvent the ruling by relying on other legal grounds to maintain a tariff policy.
The Trump administration claims these tariffs support American industry and reduce the trade deficit. But for many businesses, they have primarily led to increased costs, some of which have been passed on to consumers.
The true extent of the relief for businesses and households remains unclear. Donald Trump announced his intention to impose a blanket 10% tariff on all imports for 150 days, citing another legal provision. He also indicated he was exploring other instruments to target countries accused of unfair trade practices.
According to Michael Pearce, an economist at Oxford Economics, any short-term positive effect of lower tariffs could be offset by "a prolonged period of uncertainty." If the administration manages to reintroduce tariffs through other, more sustainable channels, the overall tariff level could remain close to that observed before the court ruling.
Another question mark hangs over the reimbursement of amounts already collected, estimated at between $133 and $175 billion. The procedures for recovering these sums are expected to be complex and could favor large companies with significant legal resources. Consumers, who have indirectly borne some of the price increases, are unlikely to receive compensation.
Faced with Donald Trump's resolve, some companies are preparing for protracted legal battles. Florida-based toy manufacturer Basic Fun has joined other companies in a lawsuit seeking to recover royalties paid. Its CEO, Jay Foreman, fears a "continuous fight" over the next three years, even though he believes that potential new tariffs could spare the toy industry.
For the business world, the Supreme Court's decision has therefore not put an end to commercial instability. Between new presidential announcements and ongoing litigation, the economic environment remains marked by significant unpredictability.
