Treasury Secretary Scott Bessent said Wednesday that the administration can continue pursuing its tariff agenda regardless of the outcome of a pending Supreme Court case. Speaking at The New York Times DealBook Summit, Bessent reiterated his earlier comments, citing multiple provisions in the 1962 Trade Act that grant the president broad authority over import duties.
He explained that the administration could replicate the current tariff framework using Sections 301, 232, and 122, as well as the International Emergency Economic Powers Act, the latter being the focus of Supreme Court scrutiny. When asked if these measures needed to be permanent, Bessent affirmed that they did. Section 122 allows tariff authority for up to 150 days, while Sections 301 and 232 do not specify a timeframe.
Bessent highlighted some administration successes, noting China’s steps to curb fentanyl imports as a positive outcome of tariffs. He also expressed optimism about the U.S. prevailing in the Supreme Court case. On another topic, he downplayed the influence of the Federal Reserve chair, noting that while the chair initiates discussions, final decisions rest with the board and regional bank voters. Reports suggest Kevin Hassett is the frontrunner, though Trump may decide in the coming weeks.
