On February 20, 2026, the Supreme Court ruled 6-3 that the International Emergency Economic Powers Act, or IEEPA, did not authorize the president to impose the sweeping tariffs Trump introduced beginning in 2025. The decision invalidated tariffs imposed on imports from numerous countries but did not itself determine exactly how previously collected money should be returned.

As of August 5th, the government had returned roughly $100 billion of approximately $165 billion collected under the invalidated tariffs, with more than $128 billion accepted for processing. Large corporations account for nearly all the money because major retailers, manufacturers and distributors import enormous quantities of merchandise. Smaller companies can qualify as well, but they must generally have been the importer of record or otherwise possess a valid legal claim to the duties.

The refund process is set up to reimburse companies in the import business, but legally no mechanism exists for consumers to receive any refunds. Which means that companies in the import business will get to keep the extra rates they charged consumers to offset the cost of the now defunct tariffs while consumers will have to eat the loss permanently. Because of President Trump’s tariffs, companies that raised prices will be reimbursed, but consumers who paid those higher prices will not…

Anyone who invested in Palantir at its IPO in 2020 could be sitting on nearly 1,540% gains right now.

But that great return is already in the past, and the stock is now one of the S&P 500’s most expensive.

And while Palantir was climbing on the back of your public information, another company was redefining big data.

Mode Mobile has already delivered 32,481% revenue growth before even going public.

Mode has:

Mode’s model pays users for their screen time and turns Big Tech’s free data mining play into a cash-generating engine for everyone.

Palantir now trades at ~85× forward earnings, which means Wall Street has already priced in massive expectations.

But Mode? 

Still private. 

That means the market hasn’t had its say yet.

Right now, investors can get Mode Mobile shares at early-stage pricing.

When the Nasdaq ticker potentially goes live, that window could close fast. 

60,000+ shareholders have already invested over $100M in Mode, and pre-IPO shares are still available at $0.52/share.

But the opportunity to get in on that price closes on August 14.

Palantir’s moment has passed.

Mode’s may just be starting.*

⏰ Last chance to invest at $0.52/share – price changes 8/14.

Businesses that formally paid the tariffs to the federal government are receiving billions of dollars back per month, while consumers who helped shoulder the tariffs through higher prices have no way to recover their money. The reason for the double standard is because of the way the Trump Administration has handled the refund process. In March, the court ordered Customs and Border Protection to calculate affected imports without the illegal IEEPA tariffs and refund the excess duties to the importers of record.

CBP subsequently created the Consolidated Administration and Processing of Entries, or CAPE, system. Beginning April 20, importers and authorized customs brokers could use their Automated Commercial Environment accounts to submit claims. The system can consolidate large numbers of shipments into refund requests and includes applicable interest. Companies generally must also register for electronic ACH payments through Customs.

Consumers face a very different situation. Legally, consumers did not write checks to Customs; importers did. Economically, however, businesses frequently recovered part of those tariff expenses by increasing wholesale or retail prices. Federal Reserve researchers studying the 2025 tariffs found measurable tariff-related price increases and concluded that households paid more while reducing purchases, with lower-income households suffering a disproportionate welfare burden.

Tariff related refunds to businesses means the American consumer ended up paying almost two hundred billion dollars to fund the Trump Administration’s now-illegal tariffs, and that money will be kept by large corporations, not the government.

The tariffs ended up generating zero revenue for the U.S. government and they imposed an enormous cost on American consumers. Tariffs were already a major election issue, and the one-sided refund process is likely to increase the amount of attention paid to the issue by voters ahead of the mid-term elections.

*Disclosures:

Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.

The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.

The gain figures are based on Palantir Technologies’ IPO in September 2020 and its share price as of August 4, 2026 close, using adjusted closing data from Yahoo Finance.

Please read the offering circular at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A Offering.

*Mode cumulative revenue includes full year revenue of businesses acquired in 2025.