Roughly $670 million is now potentially up for grabs in Oregon after the Supreme Court struck down a swath of President Trump's tariffs on Friday, according to the Trade Partnership Worldwide economic research firm.

Why it matters: Those tariffs, reversed in a case led by Oregon Attorney General Dan Rayfield, likely made all kinds of stuff more expensive as businesses passed higher costs onto everyday Americans.

• Yes, but: The ruling could now lead to a chaotic refund process — and it's unclear who gets to pocket that cash.

The big picture: The sweeping global tariffs overturned by the Supreme Court were instituted under a previously untested law, the International Emergency Economic Powers Act (IEEPA) — but they don't make up the entirety of Trump's tariff agenda.

• Trump responded to the ruling by saying he would sign an executive order to impose a blanket 15% tariff on all nations under section 122, which allows him to impose tariffs of up to 15% for 150 days to address trade deficits or a dollar crisis.

State of play: The overturned IEEPA tariffs mean nearly $126 billion is now in limbo across America, according to Trade Partnership Worldwide, based on trade from February to December 2025.

• That impact was largest for some of the biggest states, with California leading the way with $26 billion paid in IEEPA tariffs.

What they're saying: "The President may be an incredibly powerful person, but he does not get to unilaterally sit in his office and raise taxes hidden as tariffs on all Americans," Rayfield said in a statement on social media.

What's next: The Supreme Court ultimately left the question of refunds up to the Trump administration in its ruling.

• "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.

The bottom line: With Trump's new tariffs set to go into effect Tuesday, Rayfield said his office "will be watching incredibly closely to make sure that he follows the law and he does them as Congress intended."

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"Keep it fun" is the guiding principle at Rhinestone, Southeast Portland's Vegas-cowboy-coded cocktail bar, run by bar manager Trevor Thorpe and chef Graham Chaney.

• The menu is just one reflection of that: Flamin' Hot Cheeto-crusted spam sliders, carnitas eggs Benedict, chicken-fried baby-back ribs, and cocktails with names like Helldorado, Get Blasted, and Can I Cricket.

The big picture: This week, industry veterans Thorpe and Chaney are celebrating one year since they launched the concept of Rhinestone at the bar Too Soon, as a pop-up.

• The anniversary caps a rapid evolution. From a pop-up to fully realized bar in less than 14 months, Rhinestone was built without outside investors (a rarity these days) and largely through sweat equity.

Zoom in: Thorpe and Chaney — formerly of Interurban and Stammtisch, respectively — self-financed the project and, on a scaled-back budget, tackled the build-out and decor themselves once they found their spot on Southeast Clinton Street and 21st Avenue (formerly the Houston Blacklight).

• The pair are operating during a tough time for small businesses. Food costs have swung dramatically — egg prices alone have more than tripled at times — and imported spirits have jumped due to tariffs, Chaney told Axios.
• The disconnect between rising costs and what customers expect to pay remains a real concern. "It is really hard to run a tightrope of offering an affordable menu program while still making money at it," Thorpe added.

Yes, but: The response over the last year has reinforced their commitment.

Keep reading

💾 Tax breaks for data centers in Oregon could be dramatically expanded under new legislation being pushed by Gov. Tina Kotek as she works to attract new business to the state, which already has some of the biggest tax breaks in the country. (The Oregonian)

🐸 Several protesters from Portland are headed to Washington, D.C., to don the city's signature frog costumes as they rally against Trump administration policies during the President's State of the Union address tonight. (KOIN)

🦀 State wildlife officials have denied a petition from environmental groups that would have instituted new rules on Dungeness crab fishing intended to reduce the number of whales getting tangled up in crabbing gear. (OPB)

🏆 Congrats to the Tualatin High School competitive co-ed cheerleading team on their national championship, their third national title in recent years. (KGW)

Children of the '90s, rejoice! Sublime will launch a nostalgia-soaked traveling music festival in Portland this summer.

The big picture: The iconic Southern California band will kick off the Me Gusta tour at Waterfront Park on June 27.

• They'll be joined by Cypress Hill, The Interrupters and the Long Beach Dub Allstars, among others.

Between the lines: Sublime is now led by Jakob Nowell, son of original front man Bradley Nowell, who died of a drug overdose before the band reached its peak of fame.

If you go: General admission tickets start at $90.

With the Lloyd Center slated for demolition, we want to hear what the mall meant to you.

• Did you get your first job there? Spend weekends at the ice rink? Take prom photos at the Sears? Meet new friends at the food court?

💭 Share your memories — big and small — and tell us what stands out the most when you think about the Lloyd Center's impact on Portland over the last six decades.

• Hit reply or email us at [email protected] with the subject line "Lloyd Center." Please include your first and last name and neighborhood.
• We may feature responses in an upcoming story.