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Here's who could benefit from the Supreme Court's decision on Trump's IEEPA tariffs and who could lose out

The Supreme Court ruled that President Donald Trump's IEEPA tariffs were illegal.

Chen Mengtong/China News Service/VCG via Getty Images

  • The Supreme Court rules that Trump's IEEPA tariffs are illegal.
  • Businesses are celebrating the SCOTUS ruling, but tariff refunds may pose a fresh challenge.
  • The federal government could be on the hook to refund $129 billion.

The Trump administration's cornerstone policy just suffered a major setback — but it's not bad news for everyone.

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