The Supreme Court is in the process of deciding the fate of President Trump’s tariffs, but even if the administration loses, it might not matter, said Treasury Secretary Scott Bessent.
At issue is the Trump administration’s use of the International Emergency Economic Powers Act (IEEPA) to justify some of its tariffs, including its baseline 10% duty on almost all nations. IEEPA, passed by Congress in 1977, gives the President “broad authority” on economic issues like tariffs after declaring a “national emergency,” for which the White House has pointed to elevated fentanyl imports from abroad.
