Tariffs on Trial: The IEEPA Ruling and What Comes Next

The U.S. Supreme Court has delivered a significant check on the White House’s trade authority—and U.S. trading partners, including South Korea, are now recalibrating. On Friday, February 20, the Supreme Court struck down the Trump administration’s ability to implement tariffs to regulate imports under the International Emergency Economic Powers Act (IEEPA).

While the decision strikes down the tariffs imposed under the April 2 “Liberation Day” announcement, the administration’s underlying trade ambitions remain. Tariffs levied through IEEPA have been a cornerstone of the administration’s policies to reshore U.S. manufacturing, raise government revenue, and push bilateral trade and investment deal negotiations, including with South Korea. What are some trade policy tools available to the administration to continue pursuing its objectives following the ruling? How could this ruling impact investments made in the United States under the reciprocal tariff regime? What is the outlook for the trade deals negotiated between the United States and some of its major trading partners, including South Korea, Japan, and the European Union? What emphasis might this now place on existing tariffs under Section 232 and other available provisions?

Join KEI for a reactive discussion on what lies ahead for U.S. economic policy after the Supreme Court ruling and how it affects U.S. trading and investment relationships with its largest economic partners.

Speakers:

Peter Harrell, Nonresident Fellow, Carnegie Endowment for International Peace (CEIP)

Kate Kalutkiewicz, Senior Managing Director, Trade Practice, McLarty Associates

Scott Snyder (Moderator), President and CEO, Korea Economic Institute of America (KEI)

When:

Monday, February 23, 2026, 4:00 p.m.–4:45 p.m.

Where: 

KEI Event Space, 1800 K Street NW, Suite 300, Washington, DC, 20006