By Kevin Tampone
syracuse.com
(TNS)
The U.S. may have to refund half the tariffs it’s collected so far if the Supreme Court rules they’re illegal, an official said over the weekend.
Tens of billions of dollars are at risk, according to Politico.
Treasury Secretary Scott Bessent spoke about the possibility of tariff refunds Sunday on NBC’s “Meet the Press.”
“We would have to give a refund on about half the tariffs, which would be terrible for the Treasury,” Bessent said, according to Politico. “If the court says it, we’d have to do it.”
Bessent also said he was confident the administration of President Donald Trump would prevail in court.
Two lower courts have ruled that Trump lacked the authority he used to impose tariffs on nearly every country, Politico said. The administration asked the Supreme Court to take the case and hear arguments in November.
Trump’s aides have been exploring alternative methods for imposing import taxes on foreign goods in case courts overturn the current tariffs, according to NBC News.
During an appearance on CBS News’ “Face the Nation,” National Economic Council Director Kevin Hassett said there are “other legal authorities” to implement tariffs if the Supreme Court does not rule in favor of the Trump administration, according to CNN. He suggested “Section 232” investigations, which were used to implement steel and aluminum tariffs, among other options.
U.S. Customs and Border Protection has collected more than $70 billion in tariff revenue from the country-specific levies involved in the court challenges, according to Politico.
Major U.S. companies, including Walmart, have warned that Trump’s tariffs will lead to higher prices. The company said recently it has raised some prices, but kept others stable and even lowered some.
Walmart’s CEO also said that changes in consumer shopping habits so far have been subtle.
Earlier in the year, Trump told Walmart it should “eat” whatever cost increases result from the tariffs.
Photo caption: Secretary of the Treasury Scott Bessent in the Oval Office of the White House, on May 30, 2025, in Washington, D.C. (Francis Chung/Pool/CNP/ZUMA Press/TNS)
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©2025 Advance Local Media LLC. Visit syracuse.com. Distributed by Tribune Content Agency LLC.
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