The U.S. Supreme Court last Friday issued a landmark decision limiting the Trump administration’s ability to impose tariffs under the International Emergency Economic Powers Act (IEEPA). The decision introduces immediate implications for companies navigating global supply chains and has prompted swift action by the U.S. government to impose a new global tariff under an alternative statutory authority. The decision also alters the legal landscape for existing tariffs imposed under IEEPA and raises complex questions regarding refunds of tariffs already paid. NCC General Counsel Hogan Lovells prepared a brief outlining the decision, its immediate impact, and what companies should be considering in the near term. You can read the full analysis here.
