4. US Gov. Would Have to Refund Tariffs if Supreme Court Upholds Ruling, Bessent Says
Treasury Secretary Scott Bessent said that the U.S. could have to refund the tariffs it has collected if the U.S. Supreme Court upholds a lower court ruling that President Donald Trump exceeded his legal authority in setting the import taxes. Bessent said on NBC's "Meet the Press" Sunday that if the ruling was delayed until June 2026, the U.S. could be in a position to refund between $750 billion and $1 trillion in tariffs, noting that it “would be terrible for the Treasury." The Trump administration last week asked the Supreme Court to expedite a ruling in the case.
