2.20.26 – Laufer Client Advisory: BREAKING NEWS! IEEPA Tariffs Struck Down
BREAKING NEWS! The U.S. Supreme Court issued their highly anticipated decision today on IEEPA tariffs.
Background:
The Court ruled that the International Emergency Economic Powers Act doesn’t authorize the President to impose tariffs. In a 6-3 decision released just this morning, the Court struck down the use of IEEPA to impose tariffs.
What’s Next?
There are two major next steps on everyone’s mind: removing the application of tariffs on imported goods and refunds for past paid tariffs.
There is no information on next steps YET.
We anticipate operational guidance to be coming out very soon. We will provide more information on refunds and elimination of tariffs for goods currently bound for the US as soon as possible.
With this decision, there is also anticipation of other tariff measures being leveraged to impose tariffs. Essentially ‘shifting’ tariffs applied under IEEPA to a new mechanism. Section 122 may be utilized to implement a shift in these tariffs fairly quickly. Additional Section 232 tariffs may also begin to pop up.
We will provide any additional detailed guidance as soon as it’s received.
Read the full slip opinion HERE
The Laufer Group team will continue to monitor these changes and provide updates on any significant developments.
Please contact your local customer service or sales representative for additional information and service options and continue to visit laufer.com for more market Insights.