On February 20, the U.S. Supreme Court released its decision in Learning Resources, Inc. v. Trump, the case challenging the legality of the Trump Administration’s tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”). By a 6-3 majority, the Court held that IEEPA does not authorize the President to impose tariffs. In the wake of this decision, President Trump issued a number of executive orders (“EOs”) and proclamations to terminate tariffs imposed under IEEPA, and to put in place replacement tariffs under Section 122 of the Trade Act of 1974.
This alert summarizes these recent actions, considers additional tariff actions the Trump Administration is expected to roll out in the coming weeks, and addresses remaining uncertainties regarding the process for obtaining IEEPA tariff refunds.
Click here to read the full alert on cov.com.