ADM · 10-Q · 2026Q2 · Full report

Trade Policy and Tariffs

Archer-Daniels-Midland Co · 2026-08-04 · Importance 44 · Surprise 60 · In source text

On February 20, 2026, the U.S. Supreme Court ruled that the International Emergency Economic Powers Act did not authorize the executive branch to impose tariffs. The ruling invalidated presidential tariffs imposed under IEEPA, and U.S. Customs and Border Protection established a refund mechanism in April 2026 and began processing refunds during the quarter ended June 30, 2026. ADM is monitoring the refund process, potential new tariffs, and the expected United States-Mexico-Canada Agreement review, but currently does not expect tariff-related risks to materially affect its financial position, results of operations, or cash flows.

Key facts

• The U.S. Customs and Border Protection set up a refund mechanism in April 2026 and initiated the refund process in the three months ended June 30, 2026. source
• On February 20, 2026, the U.S. Supreme Court held that the International Emergency Economic Powers Act does not authorize the imposition of tariffs by the executive branch. source
• The Company does not expect tariff-related risks to have a significant impact on its financial position, results of operations, or cash flows based on currently available information. source

Impact estimates