US EditionBessent: Covering tariff refunds wouldn’t be a ‘problem’ for Treasury
Treasury Secretary Scott Bessent confirmed $774 billion is available to cover refunds if the Supreme Court rules against tariffs imposed under the International Emergency Economic Powers Act.
- On Thursday, U.S. Treasury Secretary Scott Bessent said the U.S. Treasury holds nearly $774 billion and can cover any potential tariff refunds.
- The legal fight focuses on authority under IEEPA, with Customs recording $133.5 billion collected through December 14, likely reaching $150 billion from the so-called 'reciprocal' tariffs.
- It could take weeks, months, maybe more than a year to complete repayments, according to Treasury officials, while Treasury Secretary Scott Bessent warned a mixed U.S. Supreme Court ruling could complicate eligibility and refund amounts for businesses and importers.
- U.S. Treasury Secretary Scott Bessent said he does not expect the court to overturn the tariffs, suggesting delays could increase the likelihood of a ruling in Trump's favor, while traders estimate a 75% chance and Kalshi assigns a 30% chance.
- The government projects a 2025 deficit reduction of about $300 to $400 billion, increasing financial capacity, though earlier U.S. courts found emergency tariff powers unlawful and the administration plans workarounds if blocked.
11 Articles
11 Articles
Treasury Secretary Says US Can Easily Cover Any Tariff Refunds
Treasury Secretary Scott Bessent said that his department can easily cover any refunds related to tariffs if the Supreme Court rules against the administration on their legality. “It won’t be a problem if we have to do it, but I can tell you that if it happens—which I don’t think it’s going to—it’s just a corporate boondoggle,” Bessent told Reuters in an interview over the weekend. “Costco, who’s suing the U.S. government, are they going to give…
Treasury Secretary Says US Can Easily Cover Any Tariff Refunds - The Thinking Conservative News
The Treasury currently has $774 billion, more than enough to cover refunds if the Supreme Court rules against the government, Scott Bessent says. The post Treasury Secretary Says US Can Easily Cover Any Tariff Refunds appeared first on The Thinking Conservative News.
Washington Examiner
Bessent says Treasury can cover tariff refunds
Treasury Secretary Scott Bessent confirmed that the United States has the capital should the Supreme Court rule in favor of the retail companies seeking refunds for President Donald Trump’s tariffs. Bessent made the assertion in an interview with Reuters. The Trump administration is facing lawsuits from Costco, Kawasaki Motors, Revlon, and Bumble Bee Foods, among others, over the tariffs. These companies are seeking a full refund of the tariffs …
Bessent: Covering tariff refunds wouldn't be a 'problem' for Treasury
Treasury Secretary Scott Bessent on Friday said it's no "problem" for the U.S. to pay off tariff refunds if the Supreme Court rules against President Trump's tariffs. "It won't be a problem if we have to do it, but I can tell you that if it happens — which I don't think it's going to...
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