Revision History

Three weeks after the Supreme Court's landmark 6-3 ruling in Learning Resources v. Trump struck down all tariffs imposed under IEEPA — triggering a $175 billion refund liability — the Trump administration pivoted to an untested Section 122 authority that is now facing its own wave of legal challenges from 24 states, small businesses, and the same plaintiffs who won at the Supreme Court. The cascading litigation, combined with a July 2026 statutory expiration deadline and the economic disruption of the Iran war, has created the most chaotic U.S. trade policy landscape in a century.