The Supreme Court struck down Trump's tariffs. Now what?

• The Supreme Court ruled 6-3 that President Trump's tariffs, likely imposed under the International Emergency Economic Powers Act (IEEPA), were unconstitutional as the power to tax resides with Congress.
• The decision impacts $170 billion in tariffs already collected, with debate on whether collection stops immediately and if refunds will be processed via regulatory means or lower court litigation.
• The President retains other tariff authorities (e.g., Section 122, 301) and may impose new tariffs or seek legislative changes to the IEEPA statute.

The Supreme Court struck down President Trump's tariffs imposed under a specific law, ruling that the power to tax belongs to Congress. This decision impacts $170 billion in collected tariffs, with uncertainty surrounding immediate collection cessation and the refund process. Experts suggest the President may utilize other tariff authorities or seek congressional amendments.