The U.S. Supreme Court ruled on Friday, February 20th, that a significant portion of President Trump's tariffs, which have disrupted global trade since his return to power, are illegal. This decision potentially opens the door for companies worldwide to seek refunds for surtaxes already paid, presenting a future administrative and financial challenge that has drawn criticism from Donald Trump. The ruling's implications for the global economy, businesses, consumers, and employment in Europe are being discussed by economists Emmanuel Cugny, Benjamin Fontaine, Stéphane Carcillo, and Denis Ferrand.