JUST IN: Trump administration to refund $100,000,000,000 in tariffs after Supreme Court ruling

A Supreme Court-driven move forcing a reported $100B tariff refund would ease an effective tax on importers and could improve corporate cash flows while reducing trade-policy uncertainty. Markets may read this as a near-term support to risk appetite and consumer-facing margins, while also shifting expectations around fiscal balances and political policy continuity. Currency markets could react via altered growth and deficit perceptions.