U.S. Supreme Court Strikes Down IEEPA Tariffs

The United States Supreme Court ruled today in Learning Resources, Inc. v. Trump that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose tariffs. The consequences of this decision will potentially be far-reaching, as the IEEPA tariffs have generated billions of dollars in revenue since being imposed. The Supreme Court's decision does not directly address how tariff refunds will be paid or processed. The tariffs affected by today's ruling, such as the "global" tariffs and certain tariffs on Brazil, Mexico and China, are only those that were implemented under IEEPA. Today's ruling does not invalidate tariffs imposed under other statutory authority.