The Supreme Court ruled Trump's tariffs illegal, and the U.S. started a $166 billion tariff refund. So why are prices still high, why didn't you get a cent, and why are you still paying tariffs today?

In June 2026 the government paid out more in tariff refunds than it collected. This video follows the money: who actually got the refunds, how the same tariff came back under Section 122 and then Section 301, and who came out ahead. (Spoiler: not you.)

⏱️ Chapters:
0:00 The $166B tariff refund you didn't get
1:34 How one president taxed the whole planet (IEEPA)
3:36 The Supreme Court strikes down the tariffs
4:18 Where the refund money actually went
5:25 Why shoppers don't get tariff refunds
6:39 Hedge funds buying refund claims for 20¢
7:46 The replacement tariff: Section 122
9:06 Section 301: the forced-labor loophole
11:28 25 states sue: round three?
12:13 Who won and who lost

📊 Sources

Supreme Court opinion: Learning Resources, Inc. v. Trump, No. 24-1287 (Feb 20, 2026): https://www.supremecourt.gov/opinions/25pd...
U.S. Treasury, Monthly Treasury Statement (customs duties and refunds): https://fiscaldata.treasury.gov
IEEPA, 50 U.S.C. §§1701–1708; Trade Act of 1974 §122 (19 U.S.C. §2132)
USTR, Section 301 forced-labor action (Jul 23, 2026): https://ustr.gov
Yale Budget Lab, State of U.S. Tariffs: https://budgetlab.yale.edu/research/state-...
CBP refund totals via Supply Chain Dive; Apple Q3 FY26 results; Walmart 10-Q; Reuters (Kids2); NPR and Fortune (refund-claim market); Stockov v. Costco (N.D. Ill.); NY Attorney General (25-state lawsuit)

This video is for education and commentary only. It is not financial or legal advice.

#tariffs #economics #supremecourt