President Donald Trump with Commerce Secretary Howard Lutnick talks tariffs on April 2, 2025
“Tariffs have been incredible. We’ve taken in hundreds of billions of dollars. Supreme Court gave us a little shot, but we’re allowed to do it in a different manner—they said that,” Trump told Fox News. “But we are anyway, regardless if we have the law.”
In a Tuesday filing with the U.S. Court of International Trade, the administration quietly admitted that it had refunded roughly $100 billion of the $166 billion that it brought in from tariffs under the policy instituted last year.
Trump issued those tariffs on his highly touted “Liberation Day” last April using the International Emergency Economic Powers Act. But in February, the Supreme Court ruled that Trump had overstepped his presidential powers and violated federal law.
The administration was then ordered to pay back all of the tariffs that had been collected.
But while the companies will be paid back, it remains unclear whether consumers—who saw increased prices to offset Trump’s tariffs—will ever receive any financial compensation.
Since Trump began imposing tariffs, the public has made clear that it opposes them.
While Trump has consistently claimed that tariffs are paid by other countries, they are actually passed on to consumers in the form of higher prices. This has contributed to a poor economy, made worse by gas price hikes thanks to Trump’s war in Iran.
Data for November and December is preliminary. All data is seasonally adjusted.Chart by Andrew Mangan/Created with Datawrapper
Trump has carved out exceptions for some goods, but instead of being tied to consumer concerns, they’re for industries that bankrolled his campaigns or gave him personal gift.
Republicans are currently financing campaign ads that attempt to paint Democrats as soft on China due to their opposition to Trump’s tariffs. But with data like a March survey from Harris Poll—where 72% of respondents agreed that tariffs have hurt the economy—this rhetoric seems more about stroking Trump’s ego than a potent political attack.
So, sure, Trump’s tariffs have been “incredible” for the economy—an incredible burden.
Reprinted with permission from Daily Kos
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