08.09.202501:58:30UTC+00Bessent Warns of Tariff Refund Risk if Court Delays

U.S. Treasury Secretary Scott Bessent expressed confidence on Sunday that President Donald Trump's tariff proposal will ultimately be upheld by the Supreme Court. However, he cautioned that a ruling against the plan could lead to significant repercussions for the Treasury. Speaking to NBC, Bessent stated, "If the tariffs are overturned, we would be required to issue refunds for approximately half of the tariffs, which would be detrimental to the Treasury." He further noted, "If the court mandates it, we must comply." Last week, the administration sought an expedited decision from the Court after an appeals court deemed most of Trump's tariffs illegal. Typically, a verdict might not be reached until the summer of 2026, but Bessent warned against any delays, explaining that prolonging the decision could lead to substantial disruptions: "If we wait until June 2026 for a decision, we might find ourselves in a situation where USD 750 billion to USD 1 trillion in tariffs have been collected, and reversing these could cause significant upheaval."