Supreme Court Strikes Down Trump Tariffs: $133 Billion Decision Invalidates IEEPA Authority

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The major Supreme Court development concerns a landmark tariff decision. On February 20, 2026, the Supreme Court ruled 6-3 in Learning Resources, Inc. v. Trump that President Trump exceeded his authority by imposing tariffs under the International Emergency Economic Powers Act (IEEPA)[1][2]. Chief Justice John Roberts wrote that the IEEPA does not authorize the President to impose tariffs, emphasizing that the power to tax and collect duties rests exclusively with Congress under Article I, Section 8 of the Constitution[1][2].

The Court's decision invalidated a large swath of tariffs imposed since early 2025 and halted tariff collections under IEEPA, potentially opening the door to refunds for affected businesses[4]. According to reports, more than $133 billion in duties were collected from importers, and major business groups have demanded prompt repayment[10]. FedEx became the first major company to file a lawsuit seeking full refunds following the decision[10].

The Trump administration responded quickly by attempting to reimpose tariffs through alternative legal authority. Following the Supreme Court's decision, Trump enacted a 10 percent worldwide tariff using Section 122 of the 1974 Trade Act[4][6].

The ruling carries significant constitutional implications regarding the separation of powers, reaffirming that major economic policy decisions involving taxation must originate with Congress rather than executive emergency powers[2].

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