It’s another Decision Day at the US Supreme Court.

The first two this year have seen the Supreme Court rule on things that weren’t tariffs but today is another opportunity for them to decide if tariffs are illegal without Congressional approval. If that’s the case, they will also have to decide on whether or not to refund the roughly $140 billion in tariffs already paid.

Treasury Secretary Bessent is on the wires defending tariffs and saying they can be reconstituted but it could be a messy process. I looked at how the administration could pivot and use different tariff powers here.

Earlier this month, I wrote about the stocks that could be winners and losers on the tariff decision.