Last mentioned: Mar 6, 2026
Multi-State Lawsuit
24 states sue to block the new Section 122 tariffs, citing constitutional overreach.
Multi-State Lawsuit
24 states file suit in the U.S. Court of International Trade to block new tariffs.
Refund Ruling
A judge rules that companies are entitled to refunds for duties paid under the old framework.
Refund Order
Judge rules companies are owed refunds for tariffs paid under the invalidated IEEPA framework.
Section 122 Invoked
Trump administration pivots to Section 122 to maintain 10% global tariffs.
Section 122 Invoked
Trump administration implements new 10% tariffs using the 1974 Trade Act.
SCOTUS Ruling
Supreme Court rules 6-3 that IEEPA tariffs exceed presidential authority.
Supreme Court Ruling
SCOTUS strikes down Trump's IEEPA-based tariffs in a 6-3 decision.
Record Revenue
U.S. Treasury reports $287B in tariff collections for the fiscal year.
A coalition of 24 states has filed a lawsuit against the Trump administration, alleging the president exceeded his constitutional authority by imposing global tariffs under a never-before-used provision of the Trade Act of 1974. The legal challenge follows a landmark Supreme Court ruling that struck down previous emergency duties, setting up a high-stakes confrontation over executive trade powers.
A coalition of 24 states has filed a lawsuit against the Trump administration, alleging the president exceeded his constitutional authority by imposing new global tariffs under Section 122 of the Trade Act of 1974. The legal challenge follows a Supreme Court ruling that struck down previous emergency duties, creating a high-stakes battle over executive power and consumer costs.