According to CCTV News, on February 20th local time, the U.S. Supreme Court ruled that the large-scale tariff measures implemented by the Trump administration under the International Emergency Economic Powers Act lack clear legal authorization.

This ruling marks a significant legal setback for Trump's signature trade policies and has also led to a confrontation between the U.S. business and political circles—plaintiff companies, California Governor, and former Vice President Pence all loudly demand "refunds"; meanwhile, Wall Street views the "failure" as a positive, with the three major U.S. stock indices closing higher in response.
Why is it that one side is demanding repayment while the other is celebrating? A long-lasting battle over the final ownership of this huge tax amount has just begun.
Multiple parties call for "refunds"
According to reports from CNN and other media outlets, after the U.S. Supreme Court ruled that the Trump administration's tariff policies were illegal, one of the plaintiffs, CEO Waldberger of Learning Resources, an American educational toy company, stated that the government has no reason not to refund the tariffs.
According to Reuters and other media, Learning Resources, headquartered in Illinois, is a main plaintiff in the Supreme Court's ruling, and Waldberger is also a key figure in the case.
CNN reports that Waldberger said after the ruling was announced that he believes the outcome proves his point is correct, and he disagrees with the government's claim that refunding tariffs would be overly burdensome.
CNN quotes Waldberger as saying that his company will be affected in 2025 by the International Emergency Economic Powers Act.