Following a ruling by the U.S. Supreme Court that deemed the 'extraordinary' tariffs imposed by former President Donald Trump as illegal, a significant question arises regarding how and when up to $170 billion in refunds will be processed for over 300,000 businesses affected. The decision clarified that Trump lacked the legal authority under the International Emergency Economic Powers Act (IEEPA) to impose such tariffs, but it left unresolved the complex issue of disbursing the refunds already collected. 

Businesses now face a lengthy litigation process to reclaim the tariffs paid, which Bloomberg estimates to be between $133 billion and $170 billion. The ruling has introduced uncertainty and potential chaos as companies prepare for a drawn-out legal fight to secure their funds. The Supreme Court's decision was narrowly divided at 6-3, with significant implications not only for the businesses involved but also for the broader implications on tariff legislation and economic authority in the U.S.

Judicial opinions linger on the next steps for refunding these tariffs. Justice Brett Kavanaugh, in his dissenting opinion, expressed concerns about the potential ramifications and unpredictability that such financial disputes may create in the market. As companies brace themselves for the repercussions of this ruling, both the involved businesses and policymakers will be closely observing how the refund process unfolds in the coming months.