The United States will suspend the collection of certain tariffs after the Supreme Court of the United States ruled that the measures were imposed unlawfully.
U.S. Customs and Border Protection (CBP) announced that it will stop collecting tariffs introduced under the International Emergency Economic Powers Act (IEEPA) starting one minute after midnight. In Italy, the change will take effect at 6:01 a.m. tomorrow. The move comes more than three days after the Supreme Court declared the tariffs invalid.
CBP informed shipping operators through its Cargo Systems Messaging Service that all tariff codes related to previous executive orders issued by Donald Trump under IEEPA will be deactivated.
The suspension coincides with the introduction of a new 15% global tariff announced by Trump, this time based on a different legal authority. The new measure replaces the tariffs struck down by the court.
CBP did not explain why it continued collecting the IEEPA-based tariffs at U.S. ports in the days following the Supreme Court’s ruling. The agency also provided no guidance on potential refunds for importers who paid duties after the decision.
The suspension applies only to tariffs imposed under IEEPA. Other trade measures introduced by Trump remain in force, including those under Section 232 of the national security statute and Section 301 concerning unfair trade practices.
CBP stated that it will issue further instructions to the trade community through additional official messages if necessary.
According to estimates from the Penn-Wharton Budget Model, the Supreme Court’s ruling could make more than $175 billion in previously collected tariff revenue eligible for refunds. Economists calculated that the IEEPA-based tariffs were generating over $500 million per day in gross revenue.
The Supreme Court struck down the tariffs in a 6–3 decision, concluding that the president exceeded his authority by using a 1977 emergency law to impose sweeping import taxes without clear congressional approval.
Chief Justice John Roberts wrote in the majority opinion that the president must show “clear authorization from Congress” to justify such extraordinary use of tariff powers. The court determined that this requirement was not met.
The U.S. Constitution grants Congress, not the president, the authority to levy taxes and duties. While Trump also introduced additional tariffs under other statutes that are not affected by the ruling, the IEEPA-based measures accounted for a substantial share of tariff revenues collected during his second term.
Navigate the trading markets and Discover a world of opportunities.
Bullwaves is a trading name of Equitex Capital Limited (Registration No. 8434948-1), a company authorized and regulated by the Financial Services Authority (the "FSA", licence no. SD185) with legal registered address in CT House, office number 9A, Providence, Mahe, Seychelles and physical address in Office No. Al9C, Providence Complex, Providence, Mahe, Seychelles.
ETX Services Limited with company registration number HE455407, a company registered in Cyprus with registered address Archiepiskopou Makariou lll 160, 3026 Limassol is appointed as Independent Representative and Distributor.
Risk Disclaimer:
Over-the-counter derivatives are complex instruments and come with a high risk of losing your initial capital rapidly due to leverage. You should consider whether you understand how over-the-counter derivatives work and whether you can afford to take the high level of risk to your capital. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors.
When acquiring our derivative products you have no entitlement, right or obligation to the underlying financial asset. Equitex is not a financial advisor and all services are provided on an execution only basis. Information is of a general nature only and does not consider your financial objectives, needs or personal circumstances. Important legal documents in relation to our products and services are available on our website. You should read and understand these documents before applying for any Bullwaves products or services and obtain independent professional advice as necessary.
Regional Restrictions:
The information or services described on this website is not directed at or offered to residents of Belgium, Israel, Iran, Maldives, North Korea, United States, Afghanistan, Belarus, Central African Republic, China, Iran, Russia, Cuba, Libya, Nicaragua, Palestinian Authority/Gaza/West Bank, Venezuela and to jurisdictions on the FATF and EU/UN sanctions lists or any other person in any jurisdiction where such distribution or use would be contrary to local laws or regulations. For more information please contact our support. Clients who onboarded via www.bullwaves.com can contact our support team at support@bullwaves.com.For complaints please email us at compliance@bullwaves.com
For complaints please email us at compliance@bullwaves.com