Will refunds be issued after Supreme Court ruling on Trump tariffs? [FOX Business Network]
JP Morgan Chase & Co. (JPM)
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Source: FOX Business Network
The Supreme Court on Friday struck down a significant portion of the Trump administration's tariffs that the justices found the tariffs were imposed illegally under an emergency economic powers law. The Court issued a 6-3 ruling that held President Donald Trump's use of the International Emergency Economic Powers Act (IEEPA) was illegal as the law "does not authorize the President to impose tariffs. The cases – Learning Resources Inc. v. Trump and Trump v. V.O.S. Selections – were brought by a pair of small businesses: an educational toy manufacturer and a family-owned wine and spirits importer. Chief Justice John Roberts authored the majority opinion, which did not discuss the issue of tariff refunds . Justice Brett Kavanaugh, one of the three dissenters, noted in his dissent that the issue of distributing tariff refunds was described during oral arguments as "likely to be a 'mess'." "The United States may be required to refund billions of dollars to importers who paid the IEE
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- 2/20/26 - Form 424B2
- 2/20/26 - Form 424B2
- JPM's page on the SEC website