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Refund Filings
Expected surge in litigation and administrative claims for tariff recovery by U.S. importers.
Legislative Deadline
Congress schedules high-stakes votes on War Powers and emergency military funding.
Escalation of Hostilities
Direct military engagement between Iranian forces and international coalitions increases.
SCOTUS Ruling
The Supreme Court holds that IEEPA does not include the power to impose tariffs.
Maritime Risk Alert
Global shipping agencies issue warnings for the Gulf of Oman and Strait of Hormuz.
Expanded Usage
Successive administrations use or threaten IEEPA to impose tariffs for non-traditional emergency reasons.
IEEPA Enacted
Congress passes the International Emergency Economic Powers Act to grant the President economic emergency powers.
Chief executives from major U.S. airlines have issued an urgent plea to Congress to restore Department of Homeland Security funding and ensure airport workers are paid. The industry warns that continued financial instability at the TSA and CBP threatens to paralyze both passenger travel and critical air cargo supply chains.
As the U.S. Congress prepares for high-stakes votes on a War Powers Resolution and emergency funding, the logistics sector faces unprecedented threats to Middle Eastern trade corridors. The legislative outcome will determine the level of naval protection available for commercial shipping in the Strait of Hormuz and the Red Sea.
The U.S. Supreme Court has ruled that the International Emergency Economic Powers Act (IEEPA) does not grant the President authority to impose tariffs. This landmark decision shifts trade power back to Congress and opens the door for significant duty refund claims by importers.