IP Law Daily, VITAL BRIEFING—Trump loses at the Supreme Court, lays groundwork for next fight, (Feb 27, 2026)
While the Supreme Court’s decision was silent on whether tariff payers had a right to refunds for the import taxes collected from them under the International Emergency Economic Powers Act (IEEPA), the decision that the tariffs were collected illegally opens the door to an estimated $165 billion in refund claims.
In this edition of Tariffs Insights, Thomas Thompson provides an overview of the Supreme Court’s long-awaited decision in Learning Resources v. Trump, and what is likely to come next in Donald Trump’s relentless campaign to make tariffs a central feature of the U.S. economic landscape for the foreseeable future.
Some of Thompson’s points of discussion in this installment include:
Following the release of Supreme Court’s opinion, the president’s immediate decision to impose a global 10 percent tariffs on all countries under Section 122 of the Trade Act of 1974, which he then elevated to 15 percent the following day.
President Trump’s claims that the U.S. faces fundamental international payments problems, such as large and serious balance-of-payments deficits, an imminent and significant depreciation of its currency in foreign exchange markets, or an international balance-of-payments disequilibrium so as to meet the requirements of Section 122, notwithstanding his public statements touting the resilience and strength of the U.S. dollar.
Uncertainties surrounding the refunds that amount to an estimated $165 billion in unlawfully collected tariffs, the administration of which are overseen by both the Secretary of the Treasury and Customs and Border Protection unit of the Department of Homeland Security.
To read the article, click Trump loses at the Supreme Court, lays groundwork for next fight.
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