Supreme Court rules IEEPA does not authorize tariffs, opening a refund question for Home Depot

On February 20, 2026 the Supreme Court affirmed that the International Emergency Economic Powers Act does not let the president impose tariffs, by a 6–3 vote in Learning Resources v. Trump. Collection of the IEEPA tariffs ended February 24, but the Court did not decide refunds and left them to lower courts. For Home Depot, which imports a large share of its product, the outcome means possible refunds on tariffs already paid and a possible cost offset, though the size and timing remain uncertain.

• Decision date: February 20, 2026, affirmed in No. 25-250; vote was 6–3
• Ruling covers the IEEPA trafficking and reciprocal tariffs
• CBP ended collection of the IEEPA tariffs effective February 24, 2026
• Refunds were not decided by the Court and were sent back to lower courts