Martin Weinstein, Christian Larson, Jayshree Balakrishnan, and Eli Lee have authored a new Cadwalader memorandum examining the U.S. Supreme Court's recent decision holding that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose broad tariffs.

The memo analyzes the Supreme Court’s 6–3 decision in Learning Resources, Inc. v. Trump and its implications for importers, including the end of IEEPA-based tariffs, President Trump’s new temporary 10% global tariff under Section 122 and key considerations for potential refund and litigation strategies.

Read the full memorandum here.