The U.S. Supreme Court is expected to announce a decision soon in Learning Resources v. Trump, which will decide whether the tariffs that the second Trump administration has imposed under the IEEPA pass statutory and constitutional muster.

In a new op-ed for Foreign Policy, Clark Packard, a research fellow at the Cato Institute, warns “the consequences will be significant: The administration may have to refund the roughly $100 billion in taxes that it has collected so far,” but emphasizes that “that will not mean that the country’s long national nightmare will have come to an end.”

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To speak to Clark Packard, please feel free to email Cato PR at pr@​cato.​org.