BATTLE WON BUT TRADE WAR NOT OVER?
US SUPREME COURT RULES INITIAL ROUND OF IEEPA TARIFFS UNLAWFUL
In a major development of the Canada-US Trade War (the “Trade War”), the Supreme Court of the United States (“SCOTUS”) in its decision of Learning Resources, Inc. et al. v. Trump, No. 24–1287 (“Learning Resources”), ruled that President Trump’s initial round of tariffs under the International Emergency Economic Powers Act (“IEEPA”) targeting Canada, Mexico and China are unlawful.
In this report, we provide a brief review of SCOTUS’ decision in Learning Resources, along with some implications for the Trade War moving forward, including President Trump’s potential response.