The U.S. Supreme Court’s February 20, 2026 decision invalidating tariffs imposed under the International Emergency Economic Powers Act (IEEPA) may end up doing more than reshaping trade policy. It may also create a very practical—and potentially expensive—question in mergers and acquisitions:

Households may lose over $1,000 yearly under Trump’s latest tariffs, even after the Supreme Court blocked his earlier emergency plan.

“Our brief to the Supreme Court helped to illustrate the impact on small businesses,” said Abel, founder and CEO of Ketchum-based Wild Rye. “Our story was on behalf of hundreds of thousands of businesses in the U.S. and their consumers that are being affected.”