NEW YORK CITY, New York: Shoppers hoping for lower prices after the U.S. Supreme Court struck down President Donald Trump's emergency tariffs may be disappointed, as businesses say any financial relief will likely be used to offset prior losses rather than reduce costs for consumers.

The ruling was a victory for more than 1,000 companies, including wholesaler Costco and tiremaker Goodyear Tire & Rubber, that challenged the tariffs imposed under the 1977 International Emergency Economic Powers Act, arguing Trump lacked the authority to enact them.

However, the court did not clarify how the government should refund the estimated US$175 billion already collected, leaving importers and officials in uncertainty. Business owners told Reuters they expect any reimbursement process to take time, limiting any immediate impact on prices.

"We absorbed almost all of the cost of the tariffs; we don't think there's a reason to, like, pay anybody back," said Eva St. Clair, co-owner of apparel company Princess Awesome. The firm paid $30,000 in levies and partially offset the cost through an $8,000 customer-funded tip jar, she said.

Trump's tariffs, introduced through executive orders affecting imports from most U.S. trading partners, raised prices and weighed on consumer confidence. A February 12 study by the Federal Reserve Bank of New York found U.S. consumers and businesses bore about 90 percent of the tariff burden.

Public frustration over tariffs has also affected Trump's economic approval ratings. As of mid-February, 34 percent of Americans approved of his handling of the economy, according to Reuters/Ipsos polling.

Josh Ketter, CEO of Nebraska-based e-commerce seller Spreetail, said his company has "no planned price changes." Spreetail, which sells products such as Razor scooters and Sterilite storage boxes on Amazon, paid about $50 million in tariffs in 2025.

"If we ever get refunds, it will only partially make up for the losses this past year," Ketter said. He expects the refund process could take years, though he hopes it will move faster.

Trump responded to the ruling by imposing a temporary 10 percent tariff on imports from all countries, which could rise to 15 percent under a 1974 trade law, unless Congress extends it beyond 150 days. His move could face additional legal challenges.

Jason Cheung, CEO of toy maker Huntar, said before the ruling that he did not expect prices to decline. "We may run higher discounts to our customers, though, to get buying going again," he said.

Ketter said the new tariffs would not significantly alter his company's current operations. St. Clair said Princess Awesome would adjust the shipment timing so that the goods do not enter the U.S. before the 150-day period ends.

Before the court overturned the emergency tariffs, the average effective U.S. tariff rate had reached 16 percent, the highest since 1936. The ruling temporarily reduced that rate to 9.1 percent, but it is expected to rise to 13.7 percent once the new global tariff takes effect on February 24, according to the Yale Budget Lab.

"The overall effective tariff isn't much lower than it was last week," said Joshua Bailey, principal economist for North America and global economics at the Economist Intelligence Unit. "That, combined with firms' reluctance to reverse previous price rises, means the decision is unlikely to provide much relief to households."