Thomson Reuters Tax & Accounting — Blog

Supreme Court Tariff Ruling in Learning Resources, Inc. V. Trump: What Corporate Tax and Trade Teams Need to Know

The U.S. Supreme Court ruled 6‑3 that the International Emergency Economic Powers Act does not give the President authority to impose tariffs, invalidating both the targeted fentanyl duties and broader reciprocal tariffs. The decision could unlock up to $175 billion in refunds for importers who paid those duties. It forces companies to reassess compliance strategies and shift trade‑policy reliance toward explicit congressional action. The ruling also signals a broader judicial check on executive trade powers under the Major Questions Doctrine.