Ruling Against the Tariffs: The Supreme Court issued a ruling on February 20 vacating all U.S. tariffs imposed under the International Economic Emergency Powers Act (IEEPA), including tariffs labeled “baseline” (10% on most countries), “reciprocal” (higher than 10% and varying by country), and “trafficking” or “fentanyl” tariffs imposed on Canada, Mexico, and China. The tariffs may no longer be ...