The Deduction

Author: Tax Foundation

The Deduction is your guide to the complicated world of tax and economics. From the impacts of tariffs and trade wars to debates over who pays and how much, each episode, our experts untangle another aspect of the tax code. Listen to the leading tax podcast! Have a question for one of our experts, let us know here: https://taxfoundation.org/mailbag. Follow us on Twitter @deductionpod: https://twitter.com/deductionpod
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Trump Tariffs Blocked by the Supreme Court (What’s Next?)
Wednesday, 25 February, 2026

Last Friday, the Supreme Court struck down President Trump’s IEEPA tariffs in a landmark 6-3 decision. In this episode of The Deduction, hosts Kyle Hulehan and Erica York break down what the ruling actually means, from how collections could be refunded to how the administration is already scrambling to put new tariffs in place. Erica walks through why businesses may face even more uncertainty in the near term as a messy patchwork of replacement tariffs takes shape.---TIMESTAMPS:0:00 – Weekend tariff chaos and IEEPA "pdu"2:00 – What the Supreme Court decided on IEEPA tariffs4:36 – Which tariffs were struck down (Liberation Day, fentanyl, and more)5:42 – Will importers get refunds on $160 billion in unlawful collections?7:54 – Does the ruling improve the economic outlook?9:00 – What tariff authority does the president still have?9:42 – Updated Tax Foundation tariff model numbers12:00 – Section 122 explained: 150-day tariffs and legal questions14:00 – Section 232, Section 301, and the coming patchwork of tariffs15:42 – The compliance and administrative waste of tariff policy17:00 – Can Congress step in and reclaim tariff authority?---RESOURCES:Tax Foundation Tariff Tracker: https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/Tax Foundation IEEPA Tariff Analysis: https://taxfoundation.org/tags/ieepa/---CONTACT:Email: podcast@taxfoundation.orgTwitter/X: @DeductionPodTwitter/X: @EricaDYork Drop a comment below with your tax questions.---ABOUT:The Deduction is a podcast by the Tax Foundation, the world's leading independent tax policy nonprofit. The Tax Foundation has been providing trusted, nonpartisan tax research and analysis since 1937.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show