Overview
- The Court ruled 6–3 that the 1977 IEEPA does not authorize reciprocal tariffs, voiding the legal basis for most of the duties Trump imposed under that statute.
- Following the ruling, the White House invoked Section 122 of the 1974 Trade Act to apply a nondiscriminatory 10% global tariff that began on February 24 and lasts up to 150 days.
- Argentina has paused sending its recently signed reciprocal trade agreement to Congress and opened consultations with USTR over how the decision affects promised tariff concessions.
- The shift favors countries that faced higher duties such as Brazil, China and parts of Southeast Asia, and erodes advantages negotiated by partners like the U.K., the EU and Argentina.
- Companies that paid now-invalidated tariffs are weighing refund claims, while President Trump criticized the ruling, warned of potential large repayments and suggested seeking another hearing.