Story perspectives

Supreme Court Strikes Down Most Tariffs; Trump Raises Rates

2/23/2026

Summary

Supreme Court Strikes Tariffs

On February 20, 2026, U.S. Supreme Court ruled that most tariffs under IEEPA are unlawful in a 6-3 decision.
The ruling covers tariffs on China, Canada, and Mexico, up to 34%.
U.S. Customs and Border Protection (CBP) said collections will cease starting February 24, 2026.
Despite the ruling, U.S. President Donald Trump raised the global tariff from 10% to 15%, and the administration seeks new grounds to collect duties.

Summary

Trump Faces Tariff Refunds

U.S. President Donald Trump faces pressure to issue tariff refunds after the Supreme Court ruled IEEPA tariffs unlawful, a stance echoed by California Gov. Gavin Newsom.
Treasury Secretary Scott Bessent says the refund process could take years because procedures remain unresolved.
More than 1,000 refund claims have been filed, with economists estimating totals up to $175 billion.
The administration plans to replace IEEPA tariffs with new levies under different statutes.

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Supreme Court Strikes Tariffs

On February 20, 2026, U.S. Supreme Court ruled that most tariffs under IEEPA are unlawful in a 6-3 decision.
The ruling covers tariffs on China, Canada, and Mexico, up to 34%.
U.S. Customs and Border Protection (CBP) said collections will cease starting February 24, 2026.
Despite the ruling, U.S. President Donald Trump raised the global tariff from 10% to 15%, and the administration seeks new grounds to collect duties.

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