America 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 United States may need to refund billions if the Supreme Court rules that President Donald Trump overstepped his authority on tariffs, as stated by Treasury Secretary Scott Bessent.
- Federal courts have decided that Trump lacked authority to impose tariffs based on the 1977 International Emergency Economic Powers Act, which could affect his trade agenda.
- Bessent warned that the refunds could total between USD 750 billion and USD 1 trillion, causing significant disruption for US finances if litigation continues until mid-2026.
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 “…
Billions in Tariffs at Risk as Supreme Court Reviews Trump Policy
It looks like President Donald Trump may have to refund billions of dollars in tariffs if the Supreme Court does not rule in his favor. On Sunday, Treasury Secretary Scott Bessent acknowledged that the government could be forced to return tens of billions collected since the start of Trump’s second term should the Court deem the tariffs illegal. “We would have to give a refund on about half the tariffs, which would be terrible for the Treasury,”…
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