New Delhi, Feb. 22 -- The US Supreme Court ruled on February 20 that President Donald Trump's IEEPA tariffs were illegal. This came as a setback to the Trump administration and a big relief to other countries facing Trump's reciprocal tariffs.

Most of the tariffs Trump imposed in 2025, including the "reciprocal" tariffs and the 10% baseline duties, made under International Emergency Economic Powers Act (IEEPA), have now been invalidated.

From businesses to consumers to the Trump administration, here is who will stand to benefit from the US Supreme Court's ruling, and who loses out.

According to Business Insider, trade lawyers are likely to benefit from the ruling, as several businesses, large and small, that want to get tariff money ba...