International Emergency Economic Powers Act (IEEPA)

legislation

Last mentioned: 2d ago

Timeline

  1. Projected Expiration

    The 150-day statutory limit for Section 122 tariffs is reached unless extended by Congress.

  2. Executive Response

    VP JD Vance criticizes the ruling; President Trump announces a pivot to Section 122.

  3. Section 122 Order

    Trump signs an executive order for a 10% global tariff surcharge effective immediately.

  4. Supreme Court Ruling

    The SC strikes down IEEPA-based tariffs in a 6-3 decision, citing executive overreach.

Stories mentioning International Emergency Economic Powers Act (IEEPA) 1

Trade Policy Bearish

Supreme Court Strikes Down IEEPA Tariffs; Trump Pivots to Section 122

The US Supreme Court ruled 6-3 that the executive branch cannot use the IEEPA to impose broad-based tariffs, leading the Trump administration to immediately pivot to Section 122 of the Trade Act of 1974. This shift introduces a 10% global tariff surcharge and a new 150-day window of regulatory uncertainty for global supply chains.

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