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US Treasury Secretary Scott Bessent said on January 18 it is \u201cvery unlikely\u201d that the Supreme Court will strike down President Donald Trump\u2019s use of emergency powers to impose sweeping tariffs, as the top court prepares to rule on one of the most consequential economic cases of its term.\u00a0<\/p>
\u201cI believe that it is very unlikely that the Supreme Court will overrule a president\u2019s signature economic policy,\u201d Bessent said in an interview on NBC\u2019s\u00a0Meet the Press<\/em>. Drawing a comparison with the court\u2019s past deference to major legislation, he added, \u201cThey did not overrule Obamacare. I believe that the Supreme Court does not want to create chaos.\u201d\u00a0<\/p> Bessent\u2019s comments come as the Supreme Court weighs the legality of Trump\u2019s global tariff regime, imposed under the 1977 International Emergency Economic Powers Act (IEEPA). The court is expected to issue its next set of rulings on January 20, and a decision on the tariffs could come as early as this week.\u00a0<\/p> Emergency powers under scrutiny\u00a0<\/strong><\/p> Trump has relied on the IEEPA to impose duties ranging from 10% to as high as 50% on imports from dozens of countries, arguing that trade imbalances and related factors\u00a0constitute\u00a0an \u201cunusual and extraordinary threat\u201d to US national security. The law was originally designed for rare national emergencies, not broad trade actions.\u00a0<\/p> During oral arguments held on November 5, both conservative and liberal justices questioned whether the statute provides sufficient legal grounding for such expansive tariff authority. The administration is currently appealing lower court rulings that found Trump exceeded his powers under the act.\u00a0<\/p> For the second time, on January 14, the Supreme Court declined to issue a decision, offering no indication of when a verdict might be announced, in line with its usual practice.\u00a0<\/p> Fresh tariff threats heighten tensions\u00a0<\/strong><\/p> The legal uncertainty intensified over the weekend after Trump announced plans for a new round of tariffs on European goods until \u201ca Deal is reached for the Complete and Total purchase of Greenland.\u201d In a Truth Social post, Trump did not specify which statute he would use, but the move closely mirrors earlier tariffs imposed under the IEEPA.\u00a0<\/p> Trump has repeatedly warned that overturning his tariffs would destabilise the US economy. He has argued that refunding billions of dollars already collected in tariff revenue would be a \u201ccomplete mess.\u201d\u00a0<\/p> \u201cIf the Supreme Court rules against the United States of America on this National Security bonanza,\u201d Trump wrote in a separate post, \u201cWE\u2019RE SCREWED!\u201d\u00a0<\/p> India among hardest\u00a0hit\u00a0<\/strong><\/p> India has been one of the countries most affected by Trump\u2019s tariff escalation. The total tariff burden on Indian exports to the United States has reached up to 50%, following\u00a0additional\u00a0penalties linked to New Delhi\u2019s energy trade with Russia \u2014 measures India has described as \u201cunfair and punitive.\u201d\u00a0<\/p> Adding to the pressure, the White House last week imposed an\u00a0additional\u00a025% tariff on trade with countries doing business with Iran, a category that includes India as a major commercial partner.<\/p> <\/div> Trump tariffs Supreme Court ruling, Scott Bessent, IEEPA emergency powers tariffs, US global tariff regime legality, Trump trade policy Supreme Court, India impact of Trump tariffs, US Europe tariffs Greenland deal, International Emergency Economic Powers Act case, US tariff refunds Supreme Court, Trump economic emergency powers#Treasury #secretary #Scott #Bessent #downplays #risk #court #overturning #Trump #tariffs1768756128<\/p> ","protected":false},"excerpt":{"rendered":" US Treasury Secretary Scott Bessent said on January 18 it is \u201cvery unlikely\u201d that the Supreme Court will strike down President Donald Trump\u2019s use of emergency powers to impose sweeping tariffs, as the top court prepares to rule on one of the most consequential economic cases of its term.\u00a0 \u201cI believe that it is very […]<\/p>\n","protected":false},"author":1,"featured_media":1706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[3786,930,2186,3775,3778,3780,3787,1030,3785,3774,3784,928,3783,378,3782,3773,3777,3779,3776,3781],"class_list":["post-1705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-content-marketing","tag-bessent","tag-court","tag-downplays","tag-ieepa-emergency-powers-tariffs","tag-india-impact-of-trump-tariffs","tag-international-emergency-economic-powers-act-case","tag-overturning","tag-risk","tag-scott","tag-scott-bessent","tag-secretary","tag-tariffs","tag-treasury","tag-trump","tag-trump-economic-emergency-powers","tag-trump-tariffs-supreme-court-ruling","tag-trump-trade-policy-supreme-court","tag-us-europe-tariffs-greenland-deal","tag-us-global-tariff-regime-legality","tag-us-tariff-refunds-supreme-court"],"acf":[],"_links":{"self":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/1705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1705"}],"version-history":[{"count":0,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/1705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/media\/1706"}],"wp:attachment":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1705"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}