Recent judicial developments have created a significant and time‐sensitive opportunity for U.S. importers to seek refunds of tariffs that were imposed under the International Emergency Economic Powers Act (“IEEPA”). On February 20, 2026, the U.S. Supreme Court ruled in Learning Resources, Inc. v. Trump that the IEEPA does not authorize tariffs, rendering all tariffs imposed under IEEPA unlawful. While potential recoveries may be material, refunds are not automatic and require disciplined analysis, rigorous documentation, and coordination with legal counsel.
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