Emergency Trade Guys: Supreme Court Strikes Down IEEPA Tariffs

The Supreme Court's decision to strike down President Trump's use of emergency powers to impose tariffs under IEEPA is dissected, focusing on the legal reasoning and potential implications. The court determined that IEEPA does not permit tariffs, distinguishing taxation as a power exclusively reserved for Congress. This decision sparks debate over the "major questions doctrine" and its application in limiting presidential authority. Companies face uncertainty regarding tariff refunds, potentially amounting to $170 billion, and must navigate a complex filing process. Other countries are reassessing trade agreements made under the threat of these tariffs, while the ruling's impact on upcoming US-China trade negotiations, particularly regarding China's commitments and trade imbalances, remains uncertain.