In a landmark 6–3 ruling, the U.S. Supreme Court has struck down President Trump’s expansive global tariffs issued under the International Emergency Economic Powers Act (IEEPA)—a major shift in U.S. trade policy.
The Court found the administration lacked congressional authorization to impose broad, unilateral tariffs on nearly all trading partners, invalidating the “reciprocal tariffs” and certain 25% duties tied to emergency declarations.
Tariffs imposed under other authorities, such as those relating to steel and aluminum, remain fully in effect.
The decision is expected to trigger a wave of refund claims as companies seek to recover billions of dollars in duties now deemed unlawful. Several major corporations and small businesses had already launched legal challenges before the ruling.
Financial markets reacted immediately, with the S&P 500 and NASDAQ rising, and tariff-exposed sectors experiencing notable gains.
Coppersmith will continue monitoring CBP guidance and will provide updates as the next steps for importers become clear. Watch this space.
In the meantime, we strongly recommend that all clients who have not already done so establish an ACH refund account with U.S. Customs and Border Protection. Instructions for setting up the account can be found here.
Victoria Lane
Chief Compliance Officer
L.E. Coppersmith LLC
