U.S. Trade Representative Jamieson Greer warned Thursday that as much as $200 billion could be at stake as the Supreme Court considers overturning President Donald Trump’s tariffs—a ruling he says could spark a major economic shake-up.
“The court itself signaled, ‘What do you do [with the money] in the case that the tariffs are overruled?” Greer said Thursday on “Mornings with Maria.”
The justices are weighing whether Trump’s broad import tariffs—imposed amid trade disputes with China and other nations—are legally justified.
Greer explained that if the tariffs are struck down, certain plaintiffs, companies that challenged the tariffs in court, could be refunded directly. But the remainder of the money is held by the U.S. Treasury, and many importers would likely demand their share.
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“You’re going to have all these importers and importing interests wanting that money back,” Greer said.
“We’ll have to figure out with the court what that schedule looks like, what rights the importers have, and what rights the government has over that money.”
Asked how much money could be at stake, Greer said he didn’t have an “exact number,” but estimated the total between $100 billion and $200 billion.
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“The president has imposed tariffs under a number of different legal authorities. He’s collected nearly $300 billion this year,” he explained.
“A good portion of that came in under tariffs that were not the subject of yesterday’s case.”
Greer noted that under normal scheduling, a ruling could come next spring or as late as June 2026—but said the timeline could accelerate due to President Trump’s request for expedited review.
“Whatever happens, we’ll be ready for next steps,” he added.
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