US EditionTrump Tariffs Could Be Restored by July After Supreme Court Setback, Says Bessent
U.S. Trade Representative Jamieson Greer is weighing new duties under a 1974 law as nearly 300 comments were filed by the deadline.
- Following the Supreme Court's February ruling overturning previous emergency duties, U.S. Trade Representative Jamieson Greer is investigating new tariffs under the 1974 Trade Act, with today marking the public comment deadline.
- President Donald Trump previously imposed temporary 10% tariffs, but the Supreme Court struck them down, forcing Customs and Border Protection to prepare refunds of about $165 billion collected last year.
- Stonepeak Ceramics executive Hector Narvaez and Acme United Corp. CEO Walter Johnsen advocate for tariffs, citing "extensive state subsidization" in China and India as unfair advantages threatening domestic manufacturers.
- Conversely, Wild Rye CEO Cassie Abel and Peterson Co. owner Laurra Lyden McGregor oppose the measures, warning they impose a "significant burden" and could "cause lasting damage" to U.S. businesses.
- Greer is also investigating forced labor in other countries, which allegedly provides unfair cost advantages; hearings on the practice are scheduled to begin April 28, with another hearing set for May 5.
13 Articles
13 Articles
Bessent says tariffs could be restored by July
US Treasury Secretary Scott Bessent said President Donald Trump’s tariffs could be restored by July to the level they were at before the Supreme Court struck them down. If reimposed, the levies could further compound inflationary pressures in the world’s largest economy at a time when the war in Iran is pushing up prices, especially in the energy sector. While evidence suggests that importers have absorbed the biggest brunt of the tariffs, they …
Treasury Secretary Scott Bessent stated that President Donald Trump’s tariffs could be reinstated in July at the current levels before the Supreme Court overturned many of his taxes. “We have suffered a setback in the Supreme Court as far as Trump’s tariff policy is concerned, but we will implement or conduct studies under Section 301, so tariffs could return to the previous level in early July,” Bessent said on Tuesday at a Wall Street Journal …
Times of India
The Economic TimesTrump’s tariff rates could be restored by July, says US Treasury Secretary Scott Bessent
US Treasury Secretary Scott Bessent said tariffs introduced by Donald Trump could return to earlier levels by early July, despite a setback in the US Supreme Court that struck down parts of the policy.
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