He said that tariff revenues will continue unchanged.
U.S. Treasury Secretary Scott Bessent recently spoke about the statutes that allow President Donald Trump to use tariffs after the Supreme Court ruled that he did not have the authority under the International Emergency Economic Powers Act (IEEPA).
Secretary Bessent explainecd, “This ruling was a very narrow ruling in terms of the president’s ability to use IEEPA to collect revenues. The Supreme Court said the president can put in a full embargo, but he cannot collect one dollar.”
He continued, “So the president still has the most draconian measure for negotiations, and you know that under Sections 232, Sections 301, we’re already collecting substantial tariff revenue. The IEEPA tariffs are going to be replaced… with the Section 122, and I can tell you at Treasury… tariff revenue will be unchanged this year and will be unchanged in the future.”
He added that international trade partners are satisfied with the tariff deals, which are “not going to be changed and the president remains undeterred in his determination to lower our trade deficit and bring manufacturing back to the U.S.”
As the Lord Leads, Pray with Us…
- For wisdom for President Trump and his advisors as they navigate the legal pathways to impose tariffs.
- For Secretary Bessent as he oversees and provides input on tariff implementation and collection.
Sources: Daily Signal, MSN, NY Post
