# IEEPA

*Last updated: 2026-07-01*

> The International Emergency Economic Powers Act (IEEPA) of 1977 is a US federal law that grants the president far-reaching economic powers to respond to an extraordinary threat declared a national emergency — classically through sanctions, the freezing of assets, or trade restrictions.

The International Emergency Economic Powers Act (IEEPA) of 1977 is a US federal law that grants the president far-reaching economic powers to respond to an extraordinary threat declared a national emergency — classically through sanctions, the freezing of assets, or trade restrictions. In 2025 the Trump administration based its reciprocal tariffs (Liberation Day) as well as fentanyl-related tariffs against China, Canada and Mexico on IEEPA. On 20 February 2026 the US Supreme Court ruled 6 to 3 in Learning Resources, Inc. v. Trump / Trump v. V.O.S. Selections that IEEPA does not permit the levying of tariffs: the power to "regulate" imports does not include the power to impose tariffs, since under the Constitution the tariff power is reserved to Congress. The IEEPA tariffs accordingly terminated on 24 February 2026 and were partly replaced by a temporary Section 122 surcharge. The roughly USD 166 billion already collected under IEEPA is contested: the customs agency CBP is processing refunds in phases via the CAPE system — Phase 1 covered claims of about USD 90 billion, of which roughly USD 23 billion had been approved and transmitted to the US Treasury by the CIT hearing of 9 June 2026; Phase 2 launched on 29 June 2026 and Phase 3 is planned for the end of July 2026. At the same time, on 2 June 2026 the government appealed the order for universal refunds to the Court of Appeals for the Federal Circuit (CAFC) (proceedings pending). Not to be confused with Section 232 and Section 301, which as specialised trade statutes were unaffected by the ruling. As of July 2026.

**Source:** U.S. Supreme Court, Learning Resources, Inc. v. Trump (No. 24-1287, 20 Feb 2026, 6-3); CBP – IEEPA Duty Refunds / CAPE process (Phase 2 ab 29.06.2026, Phase 3 Ende Juli 2026); Holland & Knight – „IEEPA Tariff Refund Update: Government Appeals CIT Refund Order" (Juni 2026); Thompson Hine SmarTrade – CAPE Phase 2/3 (Juni 2026); Congress.gov CRS LSB11398. Stand: Juli 2026

## Quick Facts

| Property | Value |
|---|---|
| Term | IEEPA |
| Language | EN |
| Word count | 267 |
| Last updated | 2026-07-01 |
| Source | U.S. Supreme Court, Learning Resources, Inc. v. Trump (No. 24-1287, 20 Feb 2026, 6-3); CBP – IEEPA Duty Refunds / CAPE process (Phase 2 ab 29.06.2026, Phase 3 Ende Juli 2026); Holland & Knight – „IEEPA Tariff Refund Update: Government Appeals CIT Refund Order" (Juni 2026); Thompson Hine SmarTrade – CAPE Phase 2/3 (Juni 2026); Congress.gov CRS LSB11398. Stand: Juli 2026 |

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