The Supreme Court held that the International Emergency Economic Powers Act (IEEPA) does not authorize broad tariffs, bringing the Trump Administration’s trade policy to a temporary halt.

With nearly $170 billion in tariff revenue now in limbo, refund claims from importers and manufacturers are accelerating across the country, as U.S. trade partners simultaneously reassess their existing agreements.

What does this mean for trade agreements, global markets, and U.S. manufacturers?