Last year, it was hard to keep up with which tariffs were in effect when and what percentage they were. Even more, it was difficult to know exactly how much they were costing American businesses.
But new Census Bureau data shows that American businesses have paid $265 billion in presidential tariffs from March 2025 through February 2026. The data, compiled by Trade Partnership Worldwide, shows how tariff costs are imposed on businesses under executive authorities, including the International Emergency Economic Powers Act.
Of that $265 billion, an estimated $151 billion was collected under IEEPA, the authority the Supreme Court struck down on Feb. 20. More than five weeks after that ruling, businesses are still waiting for refunds.
The administration has also moved to replace the struck-down tariffs with new Section 122 tariffs and has launched additional tariff reviews under Section 301, ensuring that cost pressures on small businesses continue even after the court’s decision.
Section 122 tariffs are a 10% (potentially rising to 15%) temporary import surcharge imposed by the Trump administration on Feb. 24. Section 301 tariffs are used to combat unfair trade practices, such as forced labor and industrial overcapacity.
The cost of tariffs is carried by businesses nationwide. And because tariff costs are not concentrated in any one region, businesses in every state are paying. The Top 10 states by total presidential tariffs paid:
- California: $49 billion ($31 billion IEEPA)
- Texas: $28 billion ($14 billion IEEPA)
- Michigan: $17 billion ($4.4 billion IEEPA)
- Georgia: $16 billion ($8.7 billion IEEPA)
- Illinois: $13 billion ($8.0 billion IEEPA)
- New York: $11 billion ($8.0 billion IEEPA)
- New Jersey: $11 billion ($7.4 billion IEEPA)
- Florida: $9.1 billion ($5.6 billion IEEPA)
- Ohio: $8.7 billion ($5.0 billion IEEPA)
- Tennessee: $8.6 billion ($4.2 billion IEEPA)
And despite the Supreme Court striking down IEEPA tariffs on Feb. 20 and the U.S. Court of International Trade ordering the government to begin processing refunds, not all refunds have been received yet. The administration filed a motion to delay those refunds, but was unsuccessful. The estimated IEEPA tariffs paid from February 2025 through February 2026 totaled $151 billion.
“One year after Liberation Day, the damage to America’s small businesses goes far beyond what any tariff data can capture,” said Dan Anthony, executive director of We Pay the Tariffs, a grassroots coalition of over 1,100 small businesses that advocates against tariffs. “These businesses have spent the last 12 months not growing, not hiring, not innovating, but surviving. They’ve drained savings, taken on debt, laid off employees, and cut product lines just to keep their doors open. The Supreme Court ruled these tariffs were illegal, and now the government needs to return the money. The system already knows who paid and how much. These businesses have been beyond inconvenienced. This has been an all-consuming crisis. We should not now create a new, all-consuming process to get that money back.”
The Iran conflict has added a new layer of confusion regarding tariffs, as just yesterday, President Trump took to social media to threaten any country supplying Iran with arms with a 50% tariff.
“A Country supplying Military Weapons to Iran will be immediately tariffed, on any and all goods sold to the United States of America, 50%, effective immediately, There will be no exclusions or exemptions! President DJT,” he wrote in a post on Truth Social.
Though Trump didn’t specifically name any countries in the post, many assume this refers to China and Russia. The leadership of both countries have denied supplying Iran with weapons.
