On February 20, 2026, the Supreme Court ruled 6–3 that President Trump’s tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were unlawful. Within hours, the President issued an Executive Order rescinding the IEEPA tariff orders, directed that collections cease as soon as practicable, and threatened a new 15% across-the-board tariff on all countries. Both actions took effect Tuesday, but the new Section 122 tariff was implemented at 10% instead of 15%. In this week’s “Three on Thursday,” we examine what this legal shift means for tariffs moving forward as well as possible refunds. Click the link below for more insight.

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