The Supreme Court Just Struck Down Trump's Tariffs: What It Means and What Comes Next
The Supreme Court ruled today — February 20, 2026 — that the International Emergency Economic Powers Act does not give the President the power to impose tariffs. The vote was 6-3. Chief Justice Roberts wrote for the majority. The Court’s most sweeping executive trade action in modern history has been struck down as unconstitutional overreach. The case is Learning Resources, Inc. v. Trump, consolidated with V.O.S. Selections v. United States. The ruling vacates the Trump administration’s “Liberation Day” tariffs — the sweeping duties imposed in April 2025 on imports from dozens of countries — and remands the question of refunds to the U.S. Court of International Trade. More than $160 billion in IEEPA tariff revenue has been collected since January 2025. The fight over who gets it back, and how, is now just beginning. ...