Supreme Court strikes down tariffs imposed under IEEPA

The Supreme Court Feb. 20 ruled that the International Emergency Economic Powers Act does not authorize the imposition of global tariffs. The court held that IEEPA does not provide the president with "the independent power to impose tariffs on imports from any country, of any product, at any rate, for any amount of time." The court did not address whether the government will have to refund the tariff revenue or what other legal authorities the president may have to impose similar tariffs.