The Supreme Court ruled on Friday, Feb. 20, 2026, that President Trump overstepped his authority when he imposed many of his tariffs on imports from countries around the world.
One way that Trump has enacted his tariffs is via the 1977 International Emergency Economic Powers Act (IEEPA). However, Friday’s ruling asserts that IEEPA does not authorize the executive branch — the president — to impose tariffs during peacetime. Instead, that power remains in the hands of the legislative branch, Congress.
“IEEPA authorizes the President to ‘investigate, block during the pendency of an investigation, regulate, direct and compel, nullify, void, prevent or prohibit … importation or exportation.’ §1702(a)(1)(B). Absent from this lengthy list of specific powers is any mention of tariffs or duties. Had Congress intended to convey the distinct and extraordinary power to impose tariffs, it would have done so expressly, as it consistently has in other tariff statutes,” says Chief Justice John Roberts.
The full 6-3 opinion can be found here.
The IEEPA ruling affects Trump’s “reciprocal” and “Liberation Day” tariffs, which included a minimum of 10% tariff on most countries and additional tariffs of up to 50% for dozens of others. It also nullifies Trump’s increased tariffs on Mexico, China and Canada, according to the Associated Press.
Since first announcing tariffs in February 2025, the rates have frequently been adjusted or overruled by new presidential proclamations, leading to confusion as to what is being tariffed and at what rate. For a summary of how tariff policies have changed under the Trump administration, check out this article by Scott Lincicome, the vice president of general economics at the Cato Institute’s Herbert A. Stiefel Center for Trade Policy Studies.
So, what tariff policies remain in place after the IEEPA ruling? Most notably, steel and aluminum tariffs will remain in place. These were last updated in June 2025, at which time both steel and aluminum tariffs were adjusted to 50% each.
Which tariffs remain in place is dependent on how they were enacted. Friday’s ruling does not affect tariffs that draw their authority from Sections 122 and 301 of the Trade Act of 1974 and Section 232 of the Trade Expansion Act of 1962. Section 122 allows the president to impose tariffs to address trade deficits, but they are limited to 15% and 150 days. Sections 232 and 301 allow tariffs only after a fact-finding by the U.S. Trade Representative and the Commerce Department, according to NPR.
The steel and aluminum tariffs draw their legality from Section 232 of the Trade Expansion Act of 1962. Tariffs on other markets, such as cars, copper, lumber, kitchen cabinets, bathroom vanities and upholstered furniture will also remain in place, as they do not rely on IEEPA, says the AP.
To replace the nullified reciprocal tariffs, Trump announced in a press briefing shortly after the ruling that he is imposing a global 10% tariff using Section 122 of the Trade Act of 1974. By nature of Section 122, this tariff is limited to 150 days unless Congress extends it.
For the steel and aluminum industry — as well as the industries they supply, such as manufacturers and suppliers for farriers — nothing has changed. Steel and aluminum tariffs remain at 50% each. Though Trump’s reciprocal tariffs have been deemed unconstitutional, the announced but not yet enacted global 10% tariff will temporarily stand in its place.
Several farrier suppliers and manufacturers announced price increases last spring, while others simply ate the costs so as not to pass them along to customers. Have you or your business been affected by tariffs? Reach out to assistant editor Maclaren Krueger at mkrueger@lessitermedia.com.
