Tariffs overturned- when will prices come down?

This big news today is the United States Supreme Court has overturned significant portions of the US Government's tariffs against China, in a 6-3 ruling declaring the tariffs cannot be imposed under the International Emergency Economic Powers Act.

Regardless of the arguments for or against tariffs, they did raise product costs, and market prices as well. Without them, prices should come down. But when?

All of our inventory here has already been tariffed. There is no clear guideline yet on if the government will be required to refund any or all past tariffs. Here's what we know:

1. Future imports will have much lower tariff rates and this will result in prices coming down on items impacted
   
   
2. It is unclear if Congress will act to pass their own tariffs similar to the tariffs President Trump authoized under IEEPA, which was struck down. Congress does have the legal authority to so do, so tariffs passed by Congress would stand up to any legal scrutiny. However, whether Congress would see the same or lower rates, and what their timeframe would be to reimpose tariffs during an election year, remain to be seen.

We will provide a new update as soon as possible. While pricing impacts won't be seen today, they should be coming soon as companies begin to import more inventory at much lower tariff rates in the coming months.