U.S. Supreme Court Decision on Emergency Tariffs: Legal and Commercial Implications
On February 20, 2026, the U.S. Supreme Court issued its decision in Learning Resources, Inc. v. Trump, holding that the International Emergency Economic Powers Act (IEEPA) does not authorize the U.S. President to impose broad based import tariffs. The ruling provides authoritative guidance on the limits of executive power in the trade context and has direct implications for businesses subject to U.S. tariffs, including Canadian exporters and importers. Key holdings…