The Tariff Toolkit: Why an IEEPA Overrule Won't End the Trade War

The Supreme Court is currently reviewing the legality of tariffs imposed by the US administration under the International Emergency Economic Powers Act (IEEPA). The government's decision to prepare extensive contingency plans and fallback options has fueled expectations—even in betting markets—that the Court will rule against the expansive use of IEEPA authority by the executive branch.