Ten Minute Interview: Structuring Venture Investments for Family Offices

This episode of The Path & The Practice features a conversation with Marshall Keen, a summer associate in Foley’s Dallas office.

On February 20, 2026, the U.S. Supreme Court issued its long-anticipated decisions in Learning Resources, Inc. v. Trump, and the consolidated case Trump v. V.O.S. Selections, Inc., holding that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose broad-based tariffs.

The Supreme Court’s reversal of tariffs imposed pursuant to the International Emergency Economic Powers Act (IEEPA) has triggered a cascading series of events. These include a forced pivot by the Trump administration towards alternative tariff authorities, activity at the Court of International Trade (CIT) aimed at securing refunds, and behind-the-scenes jockeying by companies seeking to position themselves to claim those tariff refunds.