February 22, 2026
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6:51Now PlayingIn a 6–3 decision, the Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act exceeded presidential authority, finding Congress did not grant that power. The decision leaves other trade authorities intact and sends refund questions to lower courts. The ruling marks a significant check on executive trade actions and raises major questions about how billions in previously collected tariffs could be handled. Ring of Fire's Josh G. explains.
Full Supreme Court Ruling
The Kiel Institute
Liberty Street Economics
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