Colorado paid $767M in Trump tariffs before SCOTUS ruling
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Now that the U.S. Supreme Court declared a large swath of President Trump's tariffs illegal, the question is whether businesses — or everyday Americans — will get refunds.
Why it matters: Trade Partnership Worldwide estimates $126 billion is at stake after the tariffs made goods more expensive as some businesses passed costs onto consumers.
State of play: In its ruling, the Supreme Court left that question to the Trump administration. "The court says nothing today about whether, and if so how, the government should go about returning the billions of dollars that it has collected from importers," Justice Brett Kavanaugh wrote in his dissent.
- TD Securities economists view the refund process as "unclear" and estimate that it could take up to 18 months as cases make their way through the federal court system.
Zoom in: Trade Partnership Worldwide estimates that Colorado businesses paid $767.2 million in tariffs from February to December 2025 under the International Emergency Economic Powers Act, which the high court rejected.
Colorado's U.S. Sen. John Hickenlooper immediately called for the Trump administration to offer restitution. If not, the senator said, Congress should pass his bill to repay business owners.
- "President Trump's tariffs were blatantly illegal from the start and made life unaffordable for working families and small businesses. The Supreme Court confirmed today that tariffs are taxes and only Congress can set them," the Democratic senator said in a statement.
- "The Trump administration should immediately pay back every single Colorado small business that suffered from their reckless tariffs."
Boulder outdoor clothing company Krimson Klover joined other small businesses in sending a letter to Trump and Congress demanding a refund of the extra tariff payments, the Colorado Sun reported.
- "Our big next priority is refunds," Matt McAlvanah, a coalition spokesperson, told the Sun. "We have launched a national sign-on letter led by the hundreds of businesses we already have on board, calling for 'full, fast and automatic' refunds."