ICC responds to US Supreme Court ruling on emergency tariff powers

The International Chamber of Commerce has issued a statement following the United States Supreme Court ruling on the validity of tariffs imposed under the International Emergency Economic Powers Act (IEEPA).

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ICC Secretary General John W.H. Denton AO said:

"Many businesses will welcome the prospect of refunds following today's ruling, given the significant strain that the IEEPA tariffs have placed on corporate balance sheets in recent months.

"But companies should not expect a simple process: the structure of US import procedures means claims are likely to be administratively complex. Today's ruling is worryingly silent on this issue and clear guidance from the Court of International Trade and the relevant US authorities will be essential to minimise avoidable costs and prevent litigation risks.

"Looking beyond the prospect of financial relief for some firms, it's important to bear in mind that the judgment introduces fresh uncertainty into wider trade relations with the United States.

"The administration has previously signalled its intention to reimpose tariff measures through alternative legal avenues, raising the prospect of further disruption to shipments entering the US market. We will also be looking carefully at the potential ramifications for the bilateral deals the US has struck with trade partners on the basis of reducing the now-invalidated reciprocal tariffs.

"Trade policy predictability is vital for business planning and investment. We encourage the US administration to provide clarity on its intended next steps and to ensure that any future measures are developed through transparent processes and within durable legal guardrails."