What would it mean to actually refund the tariffs?
The Indicator from Planet Money
NPR
4.7 • 9.5K Ratings
🗓️ 2 December 2025
⏱️ 9 minutes
🧾️ Download transcript
Summary
Tariffs are bringing in some serious cash into the US Treasury’s pocket. The problem with that money is that it may need to be refunded. A case in front of the Supreme Court could declare several of Trump’s tariffs illegal, which would prompt a return of billions of dollars. Today on the show, we look at how that would work and why the process will likely not be easy.
Related episodes:
Three ways companies are getting around tariffs
Days of our tariffs
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Transcript
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| 1:00.7 | NPR. |
| 1:01.4 | NPR. |
| 1:07.0 | This is the indicator from Planet Money. |
| 1:13.5 | I'm Terry and Woods. |
| 1:14.7 | And I'm Stephen Besaha. |
| 1:16.4 | Tariffs are burning a hole in the U.S. Treasury's pocket. |
| 1:19.9 | They brought in nearly $200 billion this past fiscal year, which wrapped up in September. |
| 1:25.7 | And the Trump administration has put out different |
... |
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