Treasury Secretary Scott Bessent has assured the American people that President Donald Trump’s tariff agenda will not end, even if the Supreme Court rules against his plans.
Oral arguments are scheduled for Wednesday, and the case has been fast-tracked because of the urgency surrounding the situation.
Bessent said Tuesday on CNBC’s “Squawk Box” he was confident Trump would prevail in the case, which challenges his authority to impose tariffs without an act of Congress.
But even if Trump loses, Bessent said, there are still “lots of options” available to the president for using other authorities to get the job done.
“There are lots of other authorities that can be used, but IEEPA is by far the cleanest, and it gives the U.S. and the president the most negotiating authority,” he said.
“The others are more cumbersome, but they can be effective.”
Bessent went on to detail some of the options.
Section 232 of the Trade Expansion Act of 1962 uses national security to justify tariffs.
Section 301, meanwhile, of the Trade Act of 1974 regulates unfair trading practices.
Both of these options would only allow the president to impose tariffs during a state of emergency, however.
While Trump has declared a state of emergency over the border and crime in some cities, it’s not immediately clear how these would translate to the tariff situation.
Trump asserts that income from tariffs will pay off the national debt and make the U.S. solvent again.
He called the case “life or death” for the country on Tuesday, just ahead of the arguments in the case.
Bessent believes that the Supreme Court will be reluctant to “interfere” with tariffs when they are told the policy is a “signature” one for the president.
“This is very important tomorrow, and SCOTUS is going to hear this,” Bessent said.
“This is a signature policy for the president, and traditionally, SCOTUS has been loath to interfere with these signature policies.”
Trump has used tariffs to secure more favorable terms with foreign trading partners after years of the federal government letting other nations take advantage of America’s relative wealth and status.
But that wealth and status are more in doubt than ever, with $38 trillion in ever-growing national debt.
If Trump can somehow turn that around, he will be one of the greatest presidents in history.
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