The U.S. Supreme Court has yet to make a substantive ruling on the tariffs issue during the Trump administration. Chief Justice John Roberts and other justices have been delaying the announcement of the IEEPA tariff decision, and this delay itself is a signal — the internal attitude of the court may be quietly shifting. The scenario mentioned last week is becoming increasingly realistic: the Supreme Court is likely to rule that these tariffs are legally untenable, but at the same time, maintain the current tariff measures. What does this mean? The White House cannot continue to impose new tariffs, but also does not have to refund the tariffs already collected. This "neither illegal nor corrected" state warrants ongoing observation of its impact on market expectations.