Anchor
Trump's emergency tariff gambit
Rule ChangesThe Supreme Court killed one tariff regime. Two replacements followed, and Washington is now refunding $166 billion while fighting over what comes next.
August 5th, 2026: CBP Reports $100 Billion in IEEPA Refunds IssuedNew here? Follow stories to track developments over time. Create a free account to get updates when stories you care about change.
Overview
Updated Aug 14The Supreme Court settled the core legal question on February 20, 2026. In a 6-3 ruling, it held that the 1977 emergency-powers law Trump used, the International Emergency Economic Powers Act, never gave presidents the power to impose tariffs. Trump signed a replacement 10% global tariff under Section 122 of the Trade Act of 1974 within hours.
That fix ran into trouble too: a trade court ruled it unlawful in May, though an appeals court let collection continue while it reviews the case. Section 122 expired on July 24, 2026, and the administration replaced it with new Section 301 tariffs on goods from about 60 countries tied to forced-labor enforcement. Customs has refunded roughly $100 billion of the $166 billion collected under the invalidated tariffs, with about $29 billion still under review.
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Key Indicators
$100B
IEEPA refunds issued
Amount Customs has repaid to importers through its new CAPE refund system as of August 5, 2026, about 60% of the $166 billion collected under the tariffs the Supreme Court struck down.
330,000+
Importers awaiting refunds
Companies that paid IEEPA duties and are working through CBP's CAPE portal to recover payments, up from earlier estimates of 301,000.
60
Countries facing new Section 301 tariffs
Economies hit with 10%-12.5% forced-labor tariffs starting July 24, 2026, the day the Section 122 global tariff expired.
0
Prior IEEPA tariff precedents
No president had ever used IEEPA to impose tariffs before Trump did in 2025, a gap the Supreme Court's ruling confirmed the statute never closed.
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Trump's emergency tariff gambit
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People Involved
Donald Trump
President of the United States
Cycling through alternative tariff authorities after the Supreme Court rejected his IEEPA power. A follow-up Section 122 tariff was also ruled unlawful and has since expired, replaced by Section 301 duties.
D. John Sauer
U.S. Solicitor General
Lost the IEEPA case 6-3 at the Supreme Court in February 2026 and is now defending the administration's Section 122 tariff on appeal at the Federal Circuit.
Elizabeth Prelogar
Former U.S. Solicitor General (Biden administration)
Her prediction proved out: the Supreme Court struck down the IEEPA tariffs 6-3 in February 2026, the outcome she called a coin toss.
Organizations Involved
U.S. Court of International Trade
Federal Court
Struck down a second tariff, Section 122, in May 2026, and upheld a third, the de minimis rollback, in August 2026, while managing refunds tied to $166 billion in unlawful IEEPA duties.
The specialized federal court that first ruled Trump exceeded his authority.
SI
V.O.S. Selections, Inc.
Small Business (Lead Plaintiff)
Won its case at the Supreme Court in February 2026. Like other importers, it must still apply through CBP's CAPE portal to recover its own tariff payments.
Small import-dependent business that became the named plaintiff in landmark tariff challenge.
Learning Resources, Inc.
Corporation (Educational Toys)
Won its case at the Supreme Court in February 2026; its name now attaches to the lead precedent limiting presidential tariff power under IEEPA.
Educational toy manufacturer challenging Liberation Day tariffs.
Timeline
February 2025 August 2026
25 events
Latest: August 5th, 2026 · 3 weeks ago
Showing 8 of 25
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-
CBP Reports $100 Billion in IEEPA Refunds Issued
Latest Financial ImpactThe administration said it had refunded about $100 billion of the $166 billion collected under the invalidated IEEPA tariffs, with roughly $29 billion still under review and $1.6 billion stalled for missing bank details.
-
Section 122 Tariff Expires, Section 301 Forced-Labor Tariffs Take Its Place
Policy ShiftTrump's 10% global tariff expired after its 150-day statutory limit. The administration immediately replaced it with new Section 301 tariffs of 10%-12.5% on goods from about 60 countries tied to forced-labor enforcement.
-
Federal Circuit Stays Section 122 Injunction
Legal DecisionThe appeals court paused the trade court's ruling against the Section 122 tariff, finding the government had a reasonable chance of winning on appeal. CBP kept collecting the duties until the tariff expired.
-
Trade Court Strikes Down Section 122 Global Tariff
Legal DecisionThe Court of International Trade ruled 2-1 in Oregon v. Trump and Burlap & Barrel v. Trump that Trump's 10% Section 122 tariff exceeded his authority, finding the economic conditions did not meet the law's balance-of-payments requirement. Relief applied only to the named plaintiffs.
-
CBP Opens CAPE Refund Portal, Phase 1
Administrative ActionCustoms launched the Consolidated Administration and Processing of Entries (CAPE) system inside its ACE portal, letting importers file for IEEPA tariff refunds electronically.
-
Trade Court Extends Refund Ruling to Non-Litigants
Legal DecisionThe Court of International Trade ruled that importers who never filed suit are still entitled to refunds under the Learning Resources decision, widening the pool of eligible companies.
-
Supreme Court Begins Recess Without Issuing Ruling
Legal MilestoneCourt entered four-week recess without deciding IEEPA tariff cases, extending market uncertainty. Decision now expected in February at earliest.
-
Tariff Collections Reach $150 Billion Milestone
Financial ImpactCBP data shows IEEPA tariff collections approaching $150 billion, up from $133.5 billion in mid-December, as duties continue accumulating pending Supreme Court decision.
-
CBP Announces Mandatory Electronic Refund System
Administrative ActionCustoms published interim rule requiring all tariff refunds be issued electronically via ACH starting February 6, 2026, eliminating paper checks. Move seen as preparation for potential mass IEEPA refunds.
-
DOJ Confirms Refunds Would Apply to All IEEPA Tariffs
Legal ClarificationJustice Department clarified that if Supreme Court strikes down tariffs, refunds will extend beyond cases directly challenged to all duties imposed under IEEPA authority, including those on Brazil, India, and dozens of other countries.
-
CIT Issues Administrative Stay on New Cases
Procedural OrderCourt stayed 700+ protective lawsuits filed by importers, holding them pending Supreme Court decision.
-
CIT Clarifies Refund Authority and Statute of Limitations
Legal DecisionCourt ruled it has power to order refunds of unlawful duties and will retain jurisdiction for two-year limitations period.
-
Supreme Court Hears Three Hours of Arguments
Oral ArgumentsJustices grilled both sides in extended session. Court appeared skeptical of government's position, repeatedly asking where IEEPA explicitly authorizes tariffs.
-
Supreme Court Grants Expedited Review
Legal MilestoneSCOTUS consolidated V.O.S. Selections and Learning Resources cases, agreed to fast-track oral arguments.
-
Federal Circuit Affirms En Banc
Legal DecisionAppeals court upheld CIT ruling 7-4, rejecting government's broad interpretation of IEEPA authority.
-
D.C. Court Issues Preliminary Injunction
Legal DecisionJudge Contreras blocked Liberation Day tariffs, agreeing IEEPA lacks clear tariff authorization.
-
Court of International Trade Rules Against Trump
Legal DecisionCIT granted summary judgment to V.O.S. Selections, ruling IEEPA does not authorize tariffs. Government appealed immediately.
-
Learning Resources Files Parallel Challenge
LitigationEducational toy manufacturers sued in D.C. District Court challenging Liberation Day tariffs.
-
First Legal Challenge Filed
LitigationV.O.S. Selections and four other small businesses sued in Court of International Trade, arguing IEEPA doesn't authorize tariffs.
-
Liberation Day: Reciprocal Tariffs Announced
Executive ActionTrump announced sweeping reciprocal tariffs on dozens of countries under IEEPA, citing trade deficits and unfair practices.
-
Mexico and Canada Tariffs Implemented
Implementation25% blanket tariffs on Mexico and Canada took effect after delay period expired.
-
IEEPA Tariffs Officially Published
Legal MilestoneFederal Register publication triggered two-year statute of limitations for importers seeking refunds if courts rule tariffs unlawful.
-
China Tariffs Take Effect, Retaliation Begins
Implementation10% tariffs on Chinese imports went live. China announced retaliatory duties.
-
Canada and Mexico Tariffs Postponed 30 Days
Policy ShiftTrump agreed to delay implementation after retaliatory measures threatened, but China tariffs proceeded.
-
Trump Declares National Emergencies, Orders IEEPA Tariffs
Executive ActionPresident signed three executive orders imposing 25% tariffs on Canada and Mexico, 10% on China, citing fentanyl trafficking as national security emergency.
Historical Context
3 moments from history that rhyme with this story — and how they unfolded.
1930-1934
Smoot-Hawley Tariff Act of 1930
During the Great Depression's onset, Congress passed the Smoot-Hawley Tariff Act raising duties on over 20,000 imported goods to protect American industries. Trading partners retaliated with their own tariffs. World trade collapsed by 66% between 1929 and 1934, deepening the Depression. U.S. exports fell from $7 billion to $2.5 billion.
Then
Immediate retaliation from Canada, Mexico, Europe devastated export-dependent industries and farmers.
Now
Became the canonical example of protectionism's dangers, cited in every trade debate since. Led to decades of trade liberalization efforts.
Why this matters now
Trump's IEEPA tariffs triggered similar retaliatory threats from Canada, Mexico, and China. The scale—$129 billion collected—and breadth recall Smoot-Hawley's sweeping reach.
1952
Youngstown Sheet & Tube Co. v. Sawyer (1952)
During the Korean War, President Truman seized steel mills to prevent a strike he claimed would jeopardize national defense. The Supreme Court ruled 6-3 that he lacked authority—neither Congress nor the Constitution granted him power to seize private property, even in wartime emergency. Justice Jackson's concurrence established the foundational framework for analyzing presidential power: it's strongest when Congress approves, weakest when Congress prohibits.
Then
Truman returned the mills to private ownership, and the steel strike proceeded.
Now
Created the Youngstown framework that courts still use to assess executive authority. Established that emergencies don't create power, they only occasion its exercise.
Why this matters now
The IEEPA case sits squarely in Youngstown's framework. Did Congress authorize tariffs when it passed IEEPA, or does the statute's silence mean prohibition? Courts apply Jackson's test.
2018-present
Section 232 Steel and Aluminum Tariffs (2018)
In his first term, Trump used Section 232 of the Trade Expansion Act of 1962 to impose 25% steel and 10% aluminum tariffs, claiming imports threatened national security. Unlike IEEPA, Section 232 explicitly authorizes tariffs. Trading partners protested but the authority was clear, so legal challenges failed. The tariffs remained in place through Biden's presidency.
Then
Steel and aluminum industries got protection, but manufacturers using these metals faced higher costs. Allies imposed retaliatory tariffs.
Now
Normalized using national security justifications for economic tariffs, setting precedent Trump expanded with IEEPA.
Why this matters now
Shows Trump had legal tariff tools available in Section 232. His choice to use IEEPA instead—a statute without explicit tariff authorization—is what created the constitutional crisis.
Sources
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