US EditionBessent: Trump Administration Has Backup Plan if Supreme Court Rules Unfavorably on Tariffs
Treasury Secretary Scott Bessent cites fentanyl deaths as justification for tariffs and notes progress in rallying Europe against India’s Russian oil imports under Trump’s 1977 emergency law.
- Scott Bessent told Reuters on Monday that the White House has a backup plan if the U.S. Supreme Court voids tariffs under the 1977 emergency powers law, expressing confidence the court will uphold the administration's authority.
- The tariffs were imposed under the 1977 International Emergency Economic Powers Act, with U.S. Treasury Secretary Scott Bessent citing fentanyl linked to around 70,000 U.S. deaths a year as emergency grounds.
- A divided U.S. Court of Appeals for the Federal Circuit ruled on Friday most April 'reciprocal' and February fentanyl-targeting tariffs are illegal but kept them until Oct. 14 for appeal; Bessent is preparing a brief for the U.S. solicitor general due Tuesday or Wednesday.
- Bessent and officials flagged Section 338 of the Smoot-Hawley Tariff Act of 1930 as a fallback allowing 50% tariffs for five months, protecting $142 billion in revenue as of July.
- The tariffs have rattled global markets and strained alliances as U.S. Treasury Scott Bessent said Washington presses Europe to join a 25 per cent additional tariff crackdown on India’s Russian oil purchases and accused India and China of fueling Russia’s war machine.
14 Articles
14 Articles
White House Has Backup Strategy If Trump’s Tariffs Are Overturned: Bessent
Treasury Secretary Scott Bessent has said the White House has plenty of tools at its disposal to implement President Donald Trump’s global tariffs if the Supreme Court does not uphold his use of a 1977 emergency powers law. The U.S. Court of Appeals for the Federal Circuit ruled 7–4 on Aug. 29 against the current administration’s decision to invoke the International Emergency Economic Powers Act (IEEPA) as justification for levies on foreign goo…
Bessent: Trump administration has backup plan if Supreme Court rules unfavorably on tariffs
Treasury Secretary Scott Bessent said Monday that the Trump administration has a wide array of backup plans to impose tariffs on foreign trading partners if the Supreme Court strikes down the rates set under the International Emergency Economic Powers Act (IEEPA). "I'm confident the Supreme Court will ... uphold the president's authority to use IEEPA," Bessent told Reuters in an interview published Monday. "And there are lots of other authoritie…
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