Not all of Trump's tariffs need to end because of this ruling. The court acknowledged that presidents have the power to "unilaterally impose tariffs of unlimited amount, duration, and scope." Instead, the court found that tariffs enacted based on the International Emergency Economic Powers Act (IEEPA) were done so improperly, as the administration "points to no statute" from Congress that says the IEEPA could be used for tariffs. That means tariffs against steel and aluminum could continue, since those were enacted from other laws, but both the "reciprocal" tariffs placed against other countries, and the flat 25% tariff placed on goods from countries like Canada, China, and Mexico, cannot currently stand.
There's no clear answer to this one, since there's really no precedent here. Trump is the first president to use the IEEPA as a reasoning to enact tariffs, and, as such, this is an enormous flip-flop that doesn't have a previous framework to look back to.
As such, you might expect that if these tariffs disappear, these prices will come down. If Nintendo felt the need to raise Pro Controller prices by $15 in response to tariffs, it might reverse course now that Trump's tax is no longer placing a burden on U.S. importers. While anything's possible, I don't think it's very likely. For many goods, prices can rise quickly, especially with factors like tariffs, but can take a long time to fall—if at all. Some economists think that ending tariffs would cause prices to rise slower, but not stop: a disinflationary effect, rather than deflationary.
Not all price increases are due to tariffs
Then, of course, there are the forces at play that push prices north besides tariffs. Computer components come to mind, particularly RAM. These components are becoming more expensive—and harder to find—not necessarily because of tariffs, but because AI companies are scooping them up for data processing. All of a sudden, everything that runs on these components is at risk of rising in price, since one section of the market has such a high demand. It doesn't matter if RAM is cheaper to import next month after tariffs are gone, if there's no RAM left to buy.
Don't rely on tariffs ending to make big purchases
We can speculate all day about how the end of these tariffs will affect prices, but it's just that: speculation. Companies will do what they're going to do with the prices, and there's nothing in the Supreme Court's ruling to tell us whether our iPhones, Switches, or Echos are going to be cheaper later this year or not. Prices could plummet, come down slightly, stay the same, go up slowly, or go up quickly. My best guess is that the average consumer product previously affected by these tariffs will stay about the same price it is now, barring some other major change in the markets—but again, that's just a guess.
The most concrete risk of price increases right now comes from that computer-component shortage. If you've been in the market for a new computer, or a device that relies heavily on these components (like gaming consoles), it might be a good time to buy. Prices can easily go up, but take a long time to come back down.
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