The Supreme Court of the United States released a ruling this morning, which held that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose tariffs.
This decision has the potential to significantly impact importers, and raises many questions regarding the details of the ruling as well as what the next steps are from this point forward.
- Does the U.S. administration have any additional recourse?
- When will collection of IEEPA duties end?
- Will IEEPA duties be refunded, and if so, which importers are entitled to them?
- What might a duty-refund process look like?
These are all important and valid questions, which will hopefully be answered in the coming days, as more information becomes available.
Until direction is provided by U.S. Customs, the collection of IEEPA tariffs will continue.
It’s important to note that the Supreme Court’s decision impacts only those tariffs collected under IEEPA. Tariffs levied under other legal authority, such as Section 232 of the Trade Expansion Act of 1962, which apply to products such as steel, aluminum, copper, wood, automobiles and auto parts remain in effect.