Thousands of companies around the world have filed lawsuits challenging U.S. President Donald Trump's sweeping tariffs and sought refunds on duties paid. The U.S. Supreme Court may release opinions in argued cases on Friday.

The tariff case is considered one of the most consequential trade law cases in decades because Trump's tariff program has reshaped global trade and raised fundamental questions about executive power.

Reversing long-running trends, the U.S. collected more in tariffs than in corporate income tax revenue during the final three months of 2025, the Congressional Budget Office said on Friday. President Trump's policies have shifted who pays for the federal government,

US stocks rose on Friday as investors assessed the December jobs report and braced for a possible Supreme Court ruling on President Trump's "Liberation Day" tariffs. Markets on Friday are focused on two potential catalysts: the December jobs report and the chance of a decision from the Supreme Court on the legality of Trump's sweeping tariffs.