What the Trump administration's latest tariff blow means for businesses

MoneyWatch What the Trump administration's latest tariff blow means for businesses .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Megan Cerullo Megan Cerullo Reporter, MoneyWatch Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting. Read Full Bio Megan Cerullo May 8, 2026 / 3:09 PM EDT / CBS News Add CBS News on Google A U.S. trade court's ruling against a Trump administration tariff could further constrain the White House's ability to impose import levies, according to legal and trade experts.The Court of International Trade (CIT) sided with 24 states and businesses that filed a lawsuit challenging the legality of a 10% global tariff imposed by President Trump in February under Section 122 of the Trade Act of 1974. In a ruling by the three-judge panel, the court found that the temporary tariffs were "unlawful" and harmful to businesses.The blow to Mr. Trump's trade policies follows a February Supreme Court ruling that struck down U.S. tariffs imposed last year under the International Emergency Economic Powers Act, or IEEPA. The U.S. government owes importers an estimated $175 billion in tariff refunds, plus interest, because of the ruling. U.S. Customs and Border Protection has since launched a portal where importers can submit refund claims. White House spokesman Kush Desai defended Mr. Trump's use of tariffs. "President Trump has lawfully used the tariff authorities granted to him by Congress to address our balance of payments crisis," Desai said in a statement to CBS News. "The Trump administration is reviewing legal options and maintains confidence in ultimately prevailing." Trump administration officials have said tariffs are an important tool for ensuring fair trade relations with U.S. economic par...