Treasury Secretary Bessent Comments on Tariffs Amid Supreme Court Review

NEW YORK — Treasury Secretary Scott Bessent said on Wednesday that the administration can still pursue its tariff plans even as a case on the matter awaits a ruling from the Supreme Court.

Speaking during an interview at The New York Times DealBook Summit, Bessent referred to several sections of the 1962 Trade Act, which grant the president broad powers to set import duties. “We can recreate the exact tariff structure with [sections] 301, with 232, with 122,” he stated.

Bessent, answering a question from host Andrew Ross Sorkin about the permanence of these tariffs, confirmed the administration’s intention to implement them permanently. Under Section 122, tariffs can remain in place for 150 days, while Sections 301 and 232 offer less definitive time frames.

In addition, Bessent mentioned the International Emergency Economic Powers Act, which provides extensive tariff authority but is currently being scrutinized by the Supreme Court.

“Because of the fentanyl tariffs, the Chinese are making the first step forward that they’ve made” regarding trade, he noted, despite ongoing tensions with China.

However, rising prices for everyday items due to these tariffs have drawn discontent among the public. A recent poll showed that 76% of voters view the economy negatively, a significant increase from the previous administration.

Bessent acknowledged that while the administration believes in the efficacy of the tariffs, public opinion is an important aspect, particularly as the country continues to grapple with economic challenges.

As for the Supreme Court case, Bessent expressed optimism that the administration would prevail, but that outcome remains uncertain.