Supreme Court rejects Trump’s tariffs: What does this mean for pharma?

In February 2026, the Supreme Court struck down several of the tariffs that the Trump Administration imposed through a series of executive orders.

In a 6-3 decision in Learning Resources, Inc v. Trump, the Court ruled that President Trump did not have the authority to use an emergency powers law—specifically, the International Emergency Power Economics Powers Act (IEEPA)—to enact many of the tariffs he put in place.

Many major pharmaceutical manufacturers have already entered into voluntary agreements with the Administration, thereby protecting themselves from the threat of tariffs imposed on medicines over the next three years. Quote author

Critically, however, the tariffs discussed by President Trump in the context of pharmaceuticals would be imposed under Section 232 of the Trade Expansion Act, rather than the IEEPA. As such, the Section 232 investigation into pharmaceutical imports has been unaffected by the Court’s decision, and pharmaceutical-specific tariffs are still a possibility for the Trump Administration. Still, many major pharmaceutical manufacturers have already entered into voluntary agreements with the Administration, thereby protecting themselves from the threat of tariffs imposed on medicines over the next three years.