ADVERTISEMENTRoberts, citing a prior Supreme Court ruling, wrote that "the president must 'point to clear congressional authorization' to justify his extraordinary assertion of the power to impose tariffs," adding: "He cannot." Trump's tariffs were forecast to generate over the next decade trillions of dollars in revenue for the United States, which possesses the world's largest economy. But Penn-Wharton Budget Model economists estimated on Friday that the amount collected in Trump's tariffs based on the International Emergency Economic Powers Act stood at more than $175 billion. And that amount likely would need to be refunded with a Supreme Court ruling against the IEEPA-based tariffs. IEEPA historically had been used for imposing sanctions on enemies or freezing their assets, not to impose tariffs.

Source: The Telegraph February 20, 2026 20:50 UTC