Planet Money
Planet Money

The Supreme Court struck down a bunch of Trump's tariffs. Now what?

February 21, 2026

AI Summary

5 min read

🎙️ The Speakers & Context

  • The Format: Host-led discussion with interviews and field reports.
  • The Key Players:
    • Hosts: Jeff Guo, Mary Childs, Sarah Gonzalez (NPR Planet Money team), blending journalism with economic storytelling for accessible breakdowns of policy impacts.
    • Cara Dyer: Small business owner (Storytime Toys), credible voice on tariff pain points for importers.
    • Kathleen Claussen: Georgetown Law Professor, tariff law expert who contextualizes obscure statutes like IEEPA.
    • Maureen Thorson: Customs lawyer at Wiley Rein, 25+ years in refunds and litigation.
    • Wes Harrell: Broker at Seaport Global, insider on the emerging tariff refund trading market.
  • The Vibe: Explanatory and optimistic-relieved, with wry humor on bureaucratic chaos.

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What you'll learn

  • 1 (00:00) **🎙️ Introduction: Cara Dyer**
  • 2 (02:22) **Supreme Court Ruling on IEEPA Tariffs**
  • 3 (06:14) **Paths to Tariff Refunds**
  • 4 (10:51) **Emerging Market for Tariff Refund Claims**
  • 5 (16:34) **Other Tariffs Remain; New Section 122 Tariff**
  • 6 (20:22) **Business Impact and Cara's Story**

+ Full timestamped outline available in the app

Show Notes

Live event info and tickets here.

The Supreme Court has spoken. Those big, sweeping tariffs that President Trump imposed early last year? They’re illegal. 

On today’s show: Why were those tariffs struck down? Will anyone get refunds? And …what about this new 10 percent tariff the President just announced today? 

Plus — a growing market for tariff refunds.

Further Listening:

- Worst. Tariffs. Ever. 
- Tariffs: What are they good for? 
- What "Made in China" actually means
- The 145% tariff already did its damage 
- Are Trump's tariffs legal?
- Days of our Tariffs 
- Trump's backup options for tariffs 
- What would it mean to actually refund the tariffs? 

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This episode was hosted by Jeff Guo, Mary Childs, and Sarah Gonzalez. It was produced by Sam Yellowhorse Kesler and Willa Rubin. It was edited by Marianne McCune. It was fact-checked by Sierra Juarez. Alex Goldmark is Planet Money’s executive producer. 

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