6 hours ago
Scott Bessent's remarks come after two federal courts ruled that Trump lacked the power to levy tariffs on nearly every country under the Emergency Economic Powers Act, a 1977 law designed for national security crises.
US President Donald Trump.
New Delhi,UPDATED: Sep 8, 2025 07:05 IST
The United States could be compelled to return tens of billions of dollars in tariff revenue if the Supreme Court rules that President Donald Trump overstepped his authority in imposing sweeping import duties, Treasury Secretary Scott Bessent warned on Sunday.
"We would have to give a refund on about half the tariffs, which would be terrible for the Treasury," Bessent said in an interview on NBC's Meet the Press. Pressed on whether the administration was prepared to issue those repayments, he conceded, "If the court says it, we'd have to do it," while insisting he remained confident the Trump administration would prevail.
Bessent's remarks come after two federal courts ruled that Trump lacked the power to levy tariffs on nearly every country under the Emergency Economic Powers Act, a 1977 law designed for national security crises.
The US Court of Appeals for the Federal Circuit declared the tariffs unlawful last month but delayed enforcement of its ruling until October 14 to allow an appeal. The administration has asked the Supreme Court to hear arguments in November.
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Published By:
Nakul Ahuja
Published On:
Sep 8, 2025
