The Supreme Court's landmark ruling striking down Donald Trump's sweeping global tariffs could lead to significant savings for Americans.
Consumers could see relief across a range of everyday goods, including household supplies, furniture, bedding, glassware and tableware.
Those categories have seen steady increases over the past year since Trump took office, according to the Bureau of Labor Statistics' January inflation report.
Furniture and bedding prices have risen four percent during that time period, while dishes and flatware increased by five percent.
The Supreme Court's decision could slash the average household's tariff burden roughly by half this year to between $600 and $800, according to the Yale Budget Lab.
However the president has since announced he plans to impose a 15 percent global tariff on imports by using different 'legally tested' legislation. If the levies remain the same as before the ruling prices were instead projected to rise twice as fast.
'We could see, over the coming months, some reversals of tariff–related price increases we saw last year,' Michael Pearce, the chief US economist at Oxford Economics, told USA Today.
He added: 'Consumers could see a little bit more of a boon to their take–home income.'
The Supreme Court's decision to strike down Donald Trump's global tariffs could potentially lead to savings for American consumers
The price of dishes rose five percent between last January and this January, per the latest inflation report. Tableware may become more affordable after the Supreme Court's ruling
The ruling is expected to help somewhat ease inflation and could lead to lower prices for certain goods.
Electronics and apparel are likely to benefit the most from the decision, according to economists.
'The biggest, fastest relief would show up in products with high import content and intense price competition,' investment specialist Rodney Sullivan told The Darden Report.
He added that the decision 'improves the odds that inflation cools at the margin'.
It remains to be seen whether Trump's previously suggested $2,000 tariff stimulus checks will come to fruition.
The US President previously proposed sending out rebates funded by the tariff revenues.
'People that are against Tariffs are FOOLS!' he wrote on Truth Social in November.
He posted then that the dividend 'will be paid to everyone' and excludes 'high income people.'
Bedding is another category that could see lower prices after Friday's landmark ruling, though it remains to be seen how prices are adjusted for after Trump's latest tariff-related moves
Trump has downplayed the idea that everyday Americans were paying for the tariffs and claimed they were largely paid for by foreign countries.
But in February, a report from the Federal Reserve Bank of New York claimed that American consumers and companies had paid about 90 percent of the costs.
White House economic adviser Kevin Hassett called the New York Fed's findings an 'embarrassment' and called for the authors to be 'disciplined.'
'It's, I think, the worst paper I've ever seen in the history of the Federal Reserve system,' Hassett said.
Trump used the International Emergency Economic Powers Act (IEEPA) to impose the tariffs, but the Supreme Court ruled that doing so exceeded his presidential authority.
Still, how much consumers ultimately save will depend on the Trump administration's next steps.
Hassett previously said the tariffs could be replaced with 'other tools that we could use that get us to the same place'.
'There are a lot of other legal authorities that can reproduce the deals that we've made with other countries, and can do so basically immediately,' he told CNBC.
The cost of furniture has risen since Trump took office, but that could change if the Supreme Court's rebuke of Trump lowers prices
Within hours of the Supreme Court's decision, Trump signed an executive order imposing a new 10 percent global tariff effective 'almost immediately.'
If the new measure effectively serves as a workaround to achieve the same goals, consumers may see few savings.
The White House said Trump's move used Section 122 of the Trade Act of 1974, although those tariffs can only exist for 150 days.
An extension would require congressional approval, rather than a one–sided decision.
Trump wrote on Truth Social: 'The Supreme Court did not overrule tariffs. They merely overruled a particular use of IEEPA tariffs.'
On Saturday morning, Trump announced that he would increase the tariffs he imposed yesterday up to 15 percent.
He said: 'During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again – GREATER THAN EVER BEFORE!!!'
