Archive · 10 Jan 2026
US Treasury Ready for Tariff Refunds
The US Treasury has a lot of money to pay back companies if the Supreme Court says Trump's tariffs were not allowed.
The Treasury Secretary thinks the court will probably rule in Trump's favor.
He also says companies aren't really passing the cost of tariffs to customers.
The court was expected to decide on Friday, but it didn't, so we're still waiting.
The Treasury has about $774 billion in cash and expects to have even more soon.
Some companies, like Costco, are suing to get their tariff money back, but the Treasury Secretary thinks they won't give it back to their customers.
US Treasury has $774 billion in cash to cover potential tariff refunds.
Supreme Court ruling on Trump's tariffs delayed, no decision yet.
Treasury Secretary doubts court will rule against Trump's tariffs.
Companies may not pass refunds back to consumers, called a 'corporate boondoggle'.
Estimated IEEPA tariffs approach $150 billion, but Treasury disputes this figure.
- Who
- US Treasury Secretary Scott Bessent
- What
- Potential tariff refunds if Supreme Court rules against Trump's emergency tariffs
- When
- Supreme Court ruling pending (anticipated but not yet decided as of January 10, 2026)
- Where
- United States
- Why
- Challenges to Trump's use of International Emergency Economic Powers Act for tariffs
- Treasury Cash on Hand
- $774 billion (as of January 9, 2026)
- Projected End-March Cash Balance
- $850 billion
- Expected Deficit Reduction (2025 vs 2024)
- $300-400 billion
- Fiscal 2025 Deficit
- $1.775 trillion
- Estimated IEEPA Tariffs
- $133.5 billion (through December 14, 2025)