On February 20, 2026, the United States Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA) does not authorize the emergency tariffs imposed in 2025. The ruling did not address refunds.
All other tariffs on U.S. imports charged by and paid to the U.S. government, including Sec. 122, 232 and 301 tariffs, are not affected by this ruling.
The (IEEPA) tariffs where in effect from January 20, 2025 to February 20, 2026.
POTUS issued an Executive Order imposing temporary Section 122 tariff of 10% on all imports into the United States for 150 days effective 12:00 a.m. EST on February 24, 2026.
KRN Solutions purchased a large amount of stock in November/December of 2024. This was before the enactment of any (IEEPA) tariffs. We did purchase some stock under the (IEEPA) tariffs, but we don’t expect to see any return of this monies paid at this time. Current stock levels should get us past the newly added 10% tariff on February 24.
Updated 02-25-2026