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ARTICLE · 27 FEBRUARY 2026

IEEPA Tariffs Are Out – Assessing What Comes Next

On February 20, 2026, the Supreme Court of the United States ruled that the International Emergency Economic Powers Act (IEEPA)...

United StatesInternational Law

On February 20, 2026, the Supreme Court of the United States ruled that the International Emergency Economic Powers Act (IEEPA) does not grant the President the power to regulate importation through tariffs. This has sweeping implications for the broad reciprocal tariffs (on all countries) and the "fentanyl" tariffs (on Canada, Mexico, and China) that President Trump, since February 2025, asserted under IEEPA and for more than one hundred billion dollars in duties that the U.S. Customs and Border Protection (CBP) has collected. The high court's decision now sets the stage for potential refunds for all parties who imported goods since February 2025 and paid reciprocal and/or "fentanyl" duties.

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