02/20/2026
SOME GOOD BREAKING NEWS! The U.S. Supreme Court has ruled today that the tariffs that Trump applied under the 1977 International Emergency Economic Powers Act (IEEPA) are unlawful and must be overturned. The 170-page ruling can be found here. This is a huge blow to the Trump Administration and it has major implications for many industries. However, what the Court hasn’t ruled on is whether or not the tariffs that have been paid out by U.S. importers (estimated to be $130 billion dollars, not the trillions that Trump has touted) can be reimbursed. This will be decided by the lower courts and is not expected to be settled any time soon. More news to follow!