TN HJR1073

U.S. Supreme Court ruled 6-3 in Learning Resources, Inc. v. Trump that the International Emergency Powers Act (IEEPA) does not authorize presidential tariffs, invalidating reciprocal tariffs, tariffs on goods from China, Canada, Mexico, Brazil, and India, and April 2025 tariffs on most global imports.

Tennessee paid an estimated $3.5 billion in IEEPA tariffs, with household cost increases estimated at $1,100 to $1,700 per household in 2025.

Tennessee exports suffered significant losses from retaliatory tariffs: exports to Canada fell by $1.2 billion (22% reduction), exports to China fell by $724 million (31.4% reduction), and agricultural exports declined $181 million (7.8%).

Bulk agricultural commodity exports (cotton, tobacco, soybeans) dropped $321 million or 32.8% in fiscal year 2025, with soybean exports alone losing an estimated $30-40 million.

Resolution affirms that the federal government may not retain funds collected from tariffs ruled invalid, as such collection constitutes an illegal exaction under U.S. law.