A Fox News graphic that depicts how countries have responded to President Donald Trump's tariffs. (Fox News / MANDEL NGAN/AFP via Getty Images)
In the months since the high court reviewed the consolidated case, Learning Resources, Inc, and V.O.S. Selections, Inc. v. Trump, hundreds of businesses have filed new cases against the Trump administration over IEEPA, aimed at clawing back the higher import duties they've shouldered since his tariffs took force.
The U.S. collected more than $133 billion in IEEPA tariff duties as of mid-December, according to data published by the U.S. Customs and Border Protection agency last month.
And, assuming the Supreme Court does not specifically outline a remedy portion of its ruling for the executive branch to follow, the cases will be punted back to the lower courts to chart a path forward, lawyers for the new plaintiffs said.
"There's a group of us working with the Department of Justice on getting a case management plan implemented," Erik Smithweiss, a trade lawyer representing some of the companies that have filed the new tariff lawsuits, told Fox News Digital in an interview.
SUPREME COURT TO WEIGH TRUMP TARIFF POWERS IN BLOCKBUSTER CASE
Supreme Court justices are seen attending the 60th inaugural ceremony on January 20, 2025, at the U.S. Capitol in Washington, D.C. (Ricky Carioti /The Washington Post via Getty Images)
"It's a fascinating situation, because it's super important. But in the short run, economically, this doesn't matter a huge deal," Philip Luck, the director of the economics program at the Center for Strategic and International Studies (CSIS), told Fox News Digital in an interview.
"It matters in the sense that, yes, if this comes down, some goods will become cheaper," Luck said, asked what would happen if the Supreme Court ruled against Trump's use of IEEPA to impose his tariffs. "Some exporters will be able to export to the United States more cheaply."
On its own, though, the ruling is unlikely to stop the Trump administration from imposing the tariffs via other mechanisms at its disposal, including Section 232, by which the administration can enact industry-wide tariffs for a set period of time, or under Section 301, which allows the U.S. Trade Representative's office to enact tariffs, at a president's direction, in response to countries that are determined to have "discriminatory" trade practices towards U.S. businesses.
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"More broadly, so long as this administration is intent on raising barriers to a broad set of important goods, they will be able to do that again," Luck said.
Even "a few sectoral tariffs, onto very broad sectors, and a few country-level tariffs – if you levy tariffs on our large trading partners – cover some 90% of our trade."
Breanne Deppisch is a national politics reporter for Fox News Digital covering the Trump administration, with a focus on the Justice Department, FBI and other national news. She previously covered national politics at the Washington Examiner and The Washington Post, with additional bylines in Politico Magazine, the Colorado Gazette and others. You can send tips to Breanne at Breanne.Deppisch@fox.com, or follow her on X at @breanne_dep.
https://www.foxnews.com/politics/supreme-court-tariff-ruling-has-markets-us-businesses-bracing-impact