The US Supreme Court has postponed its highly anticipated decision regarding the legality of former President Donald Trump's sweeping global tariffs, initially expected on January 9, 2026. The Court instead issued a ruling on a criminal case and is now anticipated to deliver its next set of rulings on January 14, 2026. This ongoing deferral has kept businesses and global markets in suspense, with the case representing a significant test of presidential powers and its impact on the global economy. Despite the delay, US Treasury Secretary Scott Bessent has assured that the Treasury possesses more than adequate funds to cover any potential tariff refunds, should the Supreme Court rule against Trump's emergency tariffs. As of Thursday, the Treasury had nearly $774 billion in cash, with projections of an $850 billion balance by the end of March 2026, far exceeding the estimated $150 billion in potential refunds. However, Bessent cautioned that the actual timeline for processing these repayments could span "weeks, months, [or] may take over a year." Importers and trade lawyers have been bracing for a complex refund process, with some companies like Costco having filed preemptive lawsuits to secure their rights to potential repayments. The legal challenge centers on Trump's use of the International Emergency Economic Powers Act (IEEPA) of 1977 to impose tariffs on a wide array of goods from numerous trading partners, including India, by declaring national emergencies related to trade deficits and other issues. Lower courts had previously ruled that Trump exceeded his authority under IEEPA, leading to the current appeal before the Supreme Court. The outcome is crucial for defining the limits of executive power in trade policy and will have widespread economic ramifications globally.