Di Leo: How to Spend a Tariff Windfall?

At this writing, approximately $100 billion of the SCOTUS-rejected IEEPA tariffs collected in 2025 and early 2026 have been refunded, out of a total pool of approximately $166 billion, and both the business press and the mainstream press are writing articles discussing the right way companies should “spend this windfall.” - John F. Di Leo

In summary: 

• Tariffs are here to stay; the low-tariff days of the past have been replaced by a protectionist reality.
• Companies need to objectively plan for a future in a high tariff world. 

The refunds aren’t a windfall, but they might be an opportunity to invest in the company’s future by focusing purchasing and engineering staff on a wise re-shoring/on-shoring plan that protects the company from both future tariffs and the many other special problems that accompany sourcing from China... 

If these refunds can help companies to participate in that boom, it’s a winning environment at last.