"The traditional small business groups and big business groups have been struggling under the weights of these tariffs," said Betsey Stevenson, a professor of economics and public policy at the University of Michigan. "A tariff is just a tax. It's a huge tax increase and it was really a constraint on trade."
Stevenson, the University of Michigan professor, said Friday's ruling likely won't have an immediate impact on businesses or consumers. It's unclear whether businesses will receive a refund for the tariffs or if Trump will use different acts to institute new tariffs.
"So they're still living in a world of a lot of uncertainty," she said. "What they know is that the tariffs, as they currently are configured, will not stand. But that doesn't mean that they won't be facing new tariffs very quickly."
