US EditionAmerica will refund about ‘half the tariffs’ if SCOTUS rules Trump overstepped, Bessent says
The U.S. Supreme Court will review Trump's tariffs imposed under the International Emergency Economic Powers Act, with potential refunds possibly exceeding $500 billion, Treasury warns.
- The U.S. Supreme Court will decide on the legality of Donald Trump's tariffs, with Treasury Secretary Scott Bessent stating that they may have to refund about half if ruled illegal.
- An appeals court previously ruled Trump's tariffs illegal under the International Emergency Economic Powers Act, prompting the administration to appeal.
- If the Supreme Court upholds the lower court's decision, it could severely impact the U.S. Treasury and complicate ongoing trade negotiations.
- Bessent expressed confidence in winning the Supreme Court ruling, emphasizing the economic stakes involved.
71 Articles
71 Articles
Supreme Court Ruling Against Trump Tariffs Could Trigger $1 Trillion Economic Disaster, Bessent Warns
Treasury Secretary Scott Bessent warned that the U.S. could be on the hook for a staggering $1 trillion in tariff refunds if the Supreme Court sides against President Trump’s trade agenda — a decision that could cripple the Treasury and kneecap America’s economic leverage. At the heart of the legal battle is the Trump administration’s broad use of tariffs under the International Emergency Economic Powers Act (IEEPA), particularly the so-called “…
Trump is praying for Supreme Court loss as way out of mess he's created: expert
President Donald Trump is fighting to prove his authority to impose steep tariffs without congressional approval, but one analyst speculated that he wouldn't mind losing the legal battle that's swirling around it.The U.S. Court of International Trade ruled in May that most of the president's tariffs...
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