A potential U.S. Supreme Court decision could result in over $175 billion in tariff refunds, according to economists at the Wharton School of the University of Pennsylvania. The ruling would address the validity of emergency tariffs imposed by President Trump under the International Emergency Economic Powers Act. Leslie Boehler, a senior economist at Wharton's budget modeling department, highlighted that their estimate is based on a detailed analysis of tariff rates by product and country. The Congressional Budget Office had projected $300 billion in annual tariff revenue over the next decade, but a court decision against Trump could necessitate significant refunds, surpassing the combined fiscal year 2025 budgets of the Departments of Transportation and Justice.