Tag: IEEPA
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IEEPA Refund Developments Client Alert – March 2, 2026 We are providing an update on obtaining IEEPA tariff refunds that follows our February 21, 2026 client alert concerning the Supreme Court decision. Since that alert, various importers have attempted to file Post Summary Corrections (PSCs) for unliquidated entries, and the U.S. Customs and Border Protection (CBP) has…
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The White House has issued an Executive Order formally ending all additional ad valorem duties imposed under the International Emergency Economic Powers Act (IEEPA) across a wide range of earlier tariff actions. These duties were originally tied to national emergencies involving illicit drugs, synthetic opioids, border pressures, trade deficits, and geopolitical threats. The order directs…
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The United States has taken another decisive step in reshaping its import architecture with a new Executive Order that formally continues and strengthens the suspension of duty‑free de minimis treatment under 19 U.S.C. 1321(a)(2)(C). This action, grounded in multiple national emergency declarations and broad statutory authorities, represents a structural shift in how the U.S. regulates…
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The U.S. tariff landscape has shifted again fast, decisively, and with direct consequences for every importer operating into the United States. Following the Supreme Court’s rejection of the Administration’s IEEPA based “reciprocal tariff” program, the White House has executed a rapid pivot to a different legal authority: Section 122 of the Trade Act of 1974,…
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The Supreme Court’s February 20, 2026 ruling striking down the use of the International Emergency Economic Powers Act (IEEPA) for tariff actions didn’t end the tariff era it fractured it. Within hours, the Administration pivoted to Section 122 of the Trade Act of 1974 and signaled a 10% global tariff. More authorities are already being…
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A SEISMIC SHIFT FOR U.S. TRADE AND A MASSIVE REFUND OPPORTUNITY FOR SMEs A Ruling That Resets the Balance of Power In a historic decision, the Supreme Court has struck down the use of the International Emergency Economic Powers Act (IEEPA) as a basis for imposing broad tariffs. The Court ruled that IEEPA intended for…
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Costco’s lawsuit against the U.S. government over tariffs is more than a corporate safeguard it’s a pivotal domino in a chain reaction that could reshape American retail, global trade, and presidential authority. With billions at stake, the case has shifted sentiment toward a Supreme Court ruling that may strike down the tariffs altogether. Background: The…
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Wall Street’s Tariff Refund Trade: A Billion-Dollar Bet on Judicial Reversal and Presidential Power In an unprecedented fusion of trade law, financial speculation, and constitutional brinkmanship, Wall Street firms are now buying up the rights to tariff refunds from U.S. importers wagers that hinge on the Supreme Court striking down President Trump’s emergency tariffs. This…
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Author: Maria Pechurina, Director of International Trade @ Peacock Tariff Consulting The current state of international trade between the U.S. and China is marked by ongoing negotiations, product and company-specific investigations, tariff impositions and attempts to secure mutual concessions. The arrangements are ever-evolving and the legal challenges like the IEEPA lawsuit create additional complexity. We aim to…
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In a sweeping and consequential decision, the U.S. Court of Appeals for the Federal Circuit has ruled that most of President Donald Trump’s global tariffs were unlawfully imposed under the International Emergency Economic Powers Act (IEEPA). The 7–4 ruling, delivered in late August 2025, marks a dramatic turning point in the ongoing debate over presidential…