Billions of dollars collected in tariffs could be at stake after a landmark decision. The question now on the minds of businesses and families is simple: Will there be a refund of the money paid under the tariffs imposed by Donald Trump? Here's what the Supreme Court decided and what could happen with those appeals.

The US Supreme Court ruled on Friday that President Donald Trump did not have the authority to impose certain tariffs using the International Emergency Economic Powers Act (IEEPA). However, the high court did not clarify whether the government must return the money collected.

That omission left the issue in the hands of lower courts and opened the door to a new legal battle that experts say could last for years.

“We anticipate another long legal battle over those refunds,” wrote Paul Ashworth, chief North American economist at Capital Economics, in a note to investors.

According to the Penn Wharton Budget Model, a nonpartisan academic initiative, companies could claim up to $165 billion. This figure represents about 60% of the monthly tariff revenue collected by the federal government under those provisions.

“They take months and months to write an opinion, and they don't even discuss that point,” President Trump commented at a press conference on Friday after the Supreme Court ruling. “What about all the money we get? It wasn't discussed.”

The president himself also raised concerns about what will happen regarding this issue, assuming what other experts have also said.

“I guess it's going to have to be litigated for the next two years,” the president concluded.

Currently, there is no portal or automated procedure for requesting a refund of tariffs paid under IEEPA.

Wayne Winegarden, senior fellow in economics at the Pacific Research Institute,He told CBS News that managing billions in refunds would be an “unprecedented” move for the federal government. “Certainly, the administration isn't going to offer refunds voluntarily,and companies will have to ask for them,” Winegarden explained. “In short, the government didn't have the authority to impose the tax, so they're entitled to refunds.” This expert warns that the process could be intimidating. He even estimates that some companies might avoid claiming for fear of political repercussions. For companies, it's a gamble, and he (Trump) is a punitive person, so that will discourage them from asking,” Winegarden concluded. Treasury Secretary Scott Bessent indicated that the issue of refunds is “contested.” I have recalled that the Supreme Court did not resolve that point and that the case returned to the Court of International Trade. “My impression is that it could drag on for weeks, months, years,” Bessent stated. Companies have filed more than 1,000 tariff refund requests with the Court of International Trade, estimated Alex Jacquez, chief policy and advocacy officer at Groundwork Collective, a progressive economic think tank. That number is expected to skyrocket following Friday's Supreme Court ruling. Meanwhile, Illinois Governor JB Pritzker demanded payments of $1,700 per household in his state, which would total $8 billion. The administration, meanwhile, has indicated that it will seek to replace those tariffs using other legal tools. Trump announced a 10% global tariff under Section 122 of the Trade Act of 1974 and proposed expanding tariffs under Section 301.

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