[U.S. Supreme Court Tariff Case Outcome May Have Limited Economic Impact] The U.S. Supreme Court today reviewed whether the International Emergency Economic Powers Act (IEEPA) grants the president the authority to impose tariffs in emergency situations. An article from the Brookings Institution pointed out that regardless of the ruling, the actual economic impact may be limited. Even if the Supreme Court upholds the previous ruling unfavorable to former President Trump, he may still implement similar tariffs under other trade laws. If the court rules that the president does not have the authority to impose tariffs under IEEPA, the government may be required to refund over $100 billion in tariffs already collected.