Tariff Refunds Could Unlock Billions for Importers. These Stocks Could See a Boost.

The Supreme Court struck down import tariffs imposed by executive order, opening the door to roughly $166 billion in refunds to U.S. importers. That one‑time windfall could boost earnings for large importers such as Apple, Costco, Nike and Lululemon, and be particularly meaningful for companies like Nintendo, whose gross margins fell from 59% to 37% after tariffs. The Motley Fool notes the refunds are a potential profit tailwind in 2026 but cautions many refunds are one‑offs (Apple’s estimated $3 billion is under 3% of its $118 billion net income). Market impact is likely positive for affected stocks but uneven and company‑specific.