Earlier this month, the Supreme Court ruled that Trump's "Liberation Day" tariffs were illegal. And now basically every importer who paid those tariffs will be rushing to get their refunds. But will businesses actually get paid? And how do they file a claim? And should consumers get refunded if a business passed the cost of the tariffs on to them? On this episode, we're rejoined by regular Odd Lots guest Ryan Petersen, the CEO of Flexport, a major freight forwarding company. We discuss how the entire refund process works, and the estimated timeline for payoff. We also talk about the booming secondary market in refund claims, where traders are buying up other people's claims for, in some cases, 50 cents on the dollar. Ryan also walks us through how world trade has changed since the tariffs began and the various way companies tried to game the system.

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