Source: Independent Institute
by Phillip W Magness
“The Supreme Court dealt a serious blow to President Trump’s economic agenda by ruling that the International Emergency Economic Powers Act doesn’t allow him to rewrite the U.S. tariff schedule. Mr. Trump immediately invoked a different law to impose a 10% tariff on all countries, followed by threats to raise it to 15%. The White House’s tariff Plan B looks copied from President Biden’s playbook when the court overruled his student-loan forgiveness scheme in 2023 and Mr. Biden began statute shopping for anything to back it. That strategy hit a roadblock in federal court, as a succession of rulings invalidated his attempt to revive the policy under different laws.” (02/24/26)
https://www.independent.org/article/2026/02/24/section-122-cant-carry-trumps-tariffs/