The United States may need to refund $175 billion in tariffs

The U.S. Supreme Court has ruled that the Trump administration’s large-scale tariff policies are illegal. The Trump administration has not provided tariff collection data since December 14. However, earlier today, economists at the University of Pennsylvania’s Wharton Budget Model estimated that the tariffs imposed under the U.S. International Emergency Economic Powers Act have exceeded $175 billion. With the Supreme Court ruling their illegality, this amount may need to be refunded.

(Source: CCTV International News)