And turning now to one of the plaintiffs from today's case, that's Rick Woldenberg, owner of the Chicago-based small toy manufacturer learning resources. Welcome back to the News Hour.

Thank you for having me. Rick, last November, you told us your tariff costs had risen sixfold, more than sixfold, in fact, in a single year. So what was your reaction when you heard the Supreme Court decision today?

Well, obviously, we were very gratified to have the support of Supreme Court.

We felt vindicated in our assertion that the tax that we were paying was unlawful.

I can also tell you that it was a demonstration of the rule of law

and action. And so I was comforted by the fact that I felt that the court was impartial and applied

the laws written. That's important to everybody. The tax, as you describe it, the added cost. How much of that did your

company absorb and how much did you have to pass on to customers?

Well, it's an interesting question. You know, I took a look at it and our tax rate, federal

plus state plus IEPA tariffs, was in excess of 100% last year. And so you can't stay in business if you make a dollar and

you pay more than a dollar in taxes, you will eventually have no dollars. So we had to pass

it on and that tells you exactly why other companies had to pass it on too. You can't have

a marginal tax rate that is greater than your earnings. So we passed on some of it.

We passed on as little as we felt we could manage. And in heading into 26, we already decided

we were going to win the case. And so we decided to treat our financials as if we weren't going to pay tariffs and we didn't raise our prices.

So we're actively trying to average our price down to where we think it would have been.

The president today, in railing against the Supreme Court, announced a 10% global tariff.

So in practical terms, what actually changes for your business tomorrow?

Well, at least our tax rate went down because most countries were being taxed at 18, 19, or 20%. And when I say

the countries were being taxed, I mean, we were being taxed to the tune of 18 or 19 or 20%.

So now at 10%, that's about a reduction in half. It didn't go to zero. And 122, Section 122

can only impose a tax for five months. So I guess we'll see what happens after that.

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