Overview
- During expedited arguments, conservative justices including Neil Gorsuch and Amy Coney Barrett questioned whether IEEPA authorizes tariffs or shifts Congress’ taxation powers to the executive.
- Two lower courts previously held that IEEPA does not permit these tariffs, the measures remain in effect during the appeal, and a Supreme Court ruling is expected by late June.
- Harvard Pricing Lab finds retail prices rose faster after the 2025 tariff rollout, estimating about a 0.7 percentage point boost to CPI with an effective tariff rate near 17.9% per Yale Budget Lab.
- Democratic gains in Virginia and New Jersey featured attacks on higher prices linked to tariffs, while the White House defended the program as central to its trade agenda.
- Industry groups anticipate fallback strategies under other trade statutes if IEEPA is narrowed, and prediction markets now give the administration much lower odds of prevailing.