How brands are responding to Trump’s tariff reversal, plus the latest on tariff refunds

There’s a new chapter in President Donald Trump's ongoing tariff rollercoaster.   In April of 2025, President Trump unveiled his reciprocal tariff plan, which stacked new tariffs onto existing duties to raise overall import taxes as high as 145% for certain countries. The “Liberation Day” announcement left the beauty, fashion and wellness industries struggling to properly plan for 2025 and beyond.  These tariffs have been a major source of revenue for the Federal government. In January, the U.S. collected more than $30 billion in duties, more than double the amount generated in January of 2025.  Last week, in a 6-3 decision, the Supreme Court struck down these tariffs on the grounds that they were ordered under the 1977 International Emergency Economic Powers Act. The SCOTUS ruling doesn’t say that Trump cannot enact tariffs, just that IEEPA doesn't explicitly give the president that power.  This rollback has caused ripples throughout our focus industries, with brand leaders wondering what happens next and whether businesses can expect refunds on the tariffs struck down by SCOTUS. On Tuesday, House Democrats announced plans to unveil a bill on March 2 outlining how businesses can recoup these illegal tariffs. The Senate Committee on Finance estimates that the government collected about $175 billion in tariffs under IEEPA since April 2025.  Immediately after the SCOTUS ruling, President Trump signed an executive order imposing a blanket 10% percent tariff on imported goods. On Saturday, he said he would raise it to 15%, but as of Wednesday, at the time this podcast was recorded, U.S. Custom and Border Protection had replaced Trump’s IEEPA tariffs with a 10% global import charge. It’s unclear if it will be changed to 15% soon.  On Tuesday, during the State of the Union address, President Trump called the SCOTUS ruling “unfortunate” and said that the “type of money we’re taking in is saving our country.” He said the U.S. would soon have to “make a new deal that could be far worse” for companies and countries as the administration is “testing alternative legal statutes” which are “a little more complex but probably a little bit better” than IEEPA. He added that “congressional action would not be necessary” to reinstate similar tariffs.  In the meantime, brands have been left to navigate a quickly changing landscape. In today’s episode, Glossy Beauty Podcast host Lexy Lebsack is joined by senior fashion reporter Danny Parisi and senior beauty reporter Emily Jensen to unpack the latest tariff news and share how brands are responding. Both Parisi and Jensen covered the tariff rollback earlier this week for Glossy’s beauty and fashion verticals.