The U.S. Supreme Court has invalidated tariffs imposed during the Trump administration, potentially opening the door to $175 billion in refunds for businesses that paid the import taxes.

The ruling addresses tariffs that were central to former President Donald Trump's trade policies during his administration. These tariffs affected numerous businesses across various sectors that were required to pay additional costs on imported goods.

Despite the court's decision, the process for businesses to actually claim refunds remains unclear and potentially complex. Legal experts suggest that recovering the funds may involve significant bureaucratic hurdles and administrative processes that could take considerable time to resolve.

Trump has indicated that the refund issue could remain tied up in court proceedings for up to five years, suggesting lengthy legal battles ahead for businesses seeking to recover their payments.

Small businesses, which were particularly affected by the tariff policies, now face decisions about whether to pursue claims given the uncertain timeline and potential legal costs involved in the refund process. Many are weighing the potential recovery against the resources required to navigate the claims system.

The Supreme Court's ruling represents a significant development in ongoing disputes over trade policies implemented between 2017 and 2021, though the practical impact for affected businesses may not be immediately realized.