Overview

• The Federal Circuit ruled 7–4 that most tariffs imposed under the International Emergency Economic Powers Act are unlawful because tariff authority resides with Congress.
• The Justice Department filed an emergency petition Wednesday night seeking rapid Supreme Court review with arguments as early as early November, while the contested tariffs remain in force under a stay until about October 14.
• Trump and senior officials warn of economic and geopolitical fallout if the tariffs fall, with the president threatening to unwind recent trade deals with partners such as the European Union, Japan and South Korea.
• Estimates of revenue at risk range from roughly $96 billion to more than $210 billion, and legal experts say refunds could be handled through universal repayments, payouts to named plaintiffs only, or an administrative claims process.
• Tariffs imposed under other statutes, including Section 232 on steel, aluminum and autos, are unaffected, and officials are exploring fallback tools such as Section 301, Section 122 and Smoot‑Hawley Section 338.