Rick Woldenberg, CEO of Learning Resources, sued President Trump over administration's "Liberation Day" tariffs, calling them an unlawful Executive Branch power grab. After winning in a lower court, his case reached the Supreme Court, which heard whether the president can levy tariffs to address emergencies. The White House warns of economic fallout if he prevails; Treasury Secretary Scott Bessent says refunds could cover about half of the more than $200 million collected this year. Woldenberg's toy firm, which manufactures mostly in Asia, has paid between $5 million and $10 million and scrambled to navigate shifting rates.

Prepared by Christopher Adams and reviewed by editorial team.