February 20, 2026 at 06:02AM
Exclusive: US tariff revenue at risk in Supreme Court ruling tops $175 billion, Penn-Wharton estimates
U.S. tariff revenue exceeding $175 billion could be at risk of refunds if the Supreme Court rules against President Trump’s broad emergency tariffs, according to Penn-Wharton Budget Model economists.
The analysis estimates potential refunds tied to more than $175 billion of tariff collections.
The developing story indicates a potential financial impact on the government if the court rejects the emergency tariffs.