Bessent says US would issue refunds if Supreme Court strikes down Trump's tariffs
WASHINGTON − The United States will have to send refunds to countries around the world if the Supreme Court rules against President Donald Trump 's tariffs, Treasury Secretary Scott Bessent said.
"We would have to give a refund on about half the tariffs, which would be terrible for the treasury," Bessent told "Meet the Press" on Sept. 7.
Pressed by host Kristen Welker to say whether Treasury was "prepared" to issue refunds, he added: "If the court says it, we'd have to do it."
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The Trump administration last week asked the Supreme Court to expedite its appeals process after lower courts ruled he'd overstepped his authority in imposing widespread tariffs, asking the court to decide by Sept. 10 whether it would hear arguments in November.
Trump relied on the International Emergency Economic Powers Act of 1977 to impose country-specific rates. A federal appeals court ruled 7-4 on Aug. 29 that the law does not give Trump the power to unilaterally impose tariffs, duties, or taxes. It allowed the tariffs to remain in effect until Oct. 14 to give the administration time to appeal.
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Trump has said that refunding the money would lead to a depression . "It would be impossible to ever recover, or pay back, these massive sums of money and honor," Trump said in an Aug. 8 post on Truth Social.
Bessent argued on Sept. 7 that Trump should be allowed to use tariffs to try to fight fentanyl trafficking and reduce the country's trade deficits, which he said had reached a "tipping point" that justified an emergency response.
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Bessent said Trump has "numerous" options available to him. However, they would "diminish" the president's negotiating position, the Treasury secretary said.
"I am confident that we will win at the Supreme Court," Bessent told NBC. "But there are numerous other avenues that we can take."
Conservatives have a 6-3 majority on the Supreme Court and three of the justices were appointed by Trump during his first term.
National Economic Council Director Kevin Hassett said on "Face the Nation" on CBS that it's "very unlikely" the Supreme Court would rule against the administration. "But the fact is that there are other legal authorities that one could use to get the same outcome," he said.
Hassett brought up section 301 of the Trade Act of 1974 and section 202 of the National Emergencies Act of 1976 as potential alternatives.
Contributing: Maureen Groppe
This article originally appeared on USA TODAY: US would issue refunds if Supreme Court strikes down tariffs
