US Supreme Court rules that IEEPA does not authorise tariffs
What happened. On 20 February 2026 the US Supreme Court held that the International Emergency Economic Powers Act does not authorise the President to impose tariffs; the administration then announced tariffs under a different law, Section 122 of the Trade Act.
Why it matters for investors. The ruling affected the legal basis of many tariffs imposed since 2025 and raised questions about refunds and trade-deal terms. The replacement measures had a different legal footing and time limits.
Event date: 20 Feb 2026. Source: Supreme Court of the United States opinion; US White House proclamation.
Important: This article is general information and not personal investment advice. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Please consider your own goals and risk profile, and consult a qualified adviser, before you invest.
Market commentary: This is general market commentary and not a recommendation to buy, sell or hold any security. Investments in the securities market are subject to market risks; read all related documents carefully before investing.