The U.S. Supreme Court ruled 6-3 that the International Emergency Economic Powers Act (IEEPA) does not give the president the power to impose tariffs. The case focuses on tariffs pushed by President Donald Trump, Reuters reported.
What is IEEPA?
The International Emergency Economic Powers Act (IEEPA) is a U.S. federal law passed in 1977. The act allows the president to regulate international commerce, freeze assets and impose sanctions during a national emergency declared due to a foreign threat to U.S. security, foreign policy, or the economy.
In its ruling, the court said Congress, not the president, has the power to set tariffs. The majority opinion stated that IEEPA “does not authorize the President to impose tariffs.”
The ruling limits how future presidents can use emergency powers in trade matters.
