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The Treasury Secretary added that the decision by the US Supreme Court will also “diminish President Trump’s negotiating position”.
US Treasury Secretary Scott Bessent. (AFP)
Treasury Secretary Scott Bessent said on Sunday that the department will be required to issue refunds if the Supreme Court upholds a ruling against President Donald Trump’s “reciprocal” tariffs.
“We would have to give a refund on about half the tariffs, which would be terrible for the Treasury,” Bessent said during an interview on NBC News’ Meet the Press.
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Acknowledging the potential outcome, he added, “If the court says it, we’d have to do it.”
The Treasury Secretary added that the decision by the US Supreme Court will also “diminish President Trump’s negotiating position”.
According to a CNN report, US’s National Economic Council Director Kevin Hassett, during an interview with CBS, mentioned that there are “other legal authorities” that can implement tariffs if the Supreme Court ruling does not come in favour of the US President Donald Trump.
Hassett also pointed to the possibility of invoking “Section 232″ investigations, the same provision previously used to impose tariffs on steel and aluminium, as one of several options under review, reported CNN.
A federal appeals court on August 29 ruled that President Donald Trump’s “reciprocal” tariffs exceeded his authority, finding that the International Emergency Economic Powers Act (IEEPA) does not provide the legal basis for such emergency duties imposed earlier this year.
“We discern no clear congressional authorisation by IEEPA for tariffs of the magnitude of the Reciprocal Tariffs and Trafficking Tariffs,” the court said in its majority opinion.
The latest round of the Trump administration’s so-called reciprocal tariffs, which took effect in early August, will stay in force temporarily, as the court delayed the implementation of its order until October 14.
The ruling has raised fresh doubts over the administration’s ability to carry forward trade negotiations. In response, the Trump administration filed an appeal with the Supreme Court on Wednesday, warning that without tariffs, the US would become a “poor nation.”
Bessent, however, mentioned that he is “confident” of Trump winning at the Supreme Court.
About the Author
Covering day-to-day national and international news for the last nine years across print and digital. Associated with News18.com as Chief Sub-Editor since 2022, covering innumerable big and small events, includ…Read More
Covering day-to-day national and international news for the last nine years across print and digital. Associated with News18.com as Chief Sub-Editor since 2022, covering innumerable big and small events, includ… Read More
September 08, 2025, 09:13 IST
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