Scott Bessent made it clear Wednesday that the Trump administration’s tough and highly successful tariff strategy will move forward — even if the Supreme Court rules against President Donald Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose levies on foreign trade partners.
Speaking at the DealBook Summit in New York, Bessent emphasized that the administration has multiple legal pathways to implement Trump’s America-first trade measures. He pointed to Section 232 of the Trade Expansion Act of 1962, which authorizes tariffs on national security grounds, as well as Sections 122 and 301 of the Trade Act of 1974, which can be used to combat unfair trade practices.
“We can re-create the exact tariff structure with 301, with 232, with 122,” Bessent said, reiterating comments he made last month.
When CNBC’s Andrew Ross Sorkin asked whether those measures would be permanent, Bessent didn’t hesitate:
“Permanently.”
Section 122 allows tariffs for up to 150 days, while Sections 232 and 301 offer even broader authority, according to CNBC. Bessent also noted that IEEPA gives presidents sweeping emergency powers — though that statute is now under review by the Supreme Court.
The Court’s decision, expected later this term, could shape the limits of executive power in trade matters for years to come.
Tariffs Working Exactly as Intended
Bessent highlighted the administration’s success in pressuring China, especially regarding fentanyl precursors flowing into the United States.
“Because of the fentanyl tariffs, the Chinese have made a robust effort” to halt exports of those dangerous chemicals, he said.
He also expressed confidence that China will honor its commitments under the recent agricultural deal negotiated between President Trump and Chinese leader Xi Jinping in South Korea. After previously retaliating against U.S. tariffs by cutting soybean purchases, China agreed to buy 12 million metric tons of soybeans this year — and is reportedly on track to complete the purchase by the end of February.
Under the agreement, China also pledged to buy at least 25 million metric tons annually over the next three years, consistent with historical levels of 25–30 million.
Trump Warns Court: Undoing Tariffs Would Be a Disaster
President Trump issued a warning this week on Truth Social, cautioning the Supreme Court that dismantling his tariff framework would inflict severe damage on the U.S. economy, undermining national security and wiping out trillions in American wealth.
“The U.S. Supreme Court was given the wrong numbers,” Trump wrote. “The ‘unwind’ in the event of a negative decision… would be… in excess of 3 Trillion Dollars.”
He stressed that reversing course would be catastrophic:
“That would truly become an insurmountable National Security Event and devastating to the future of our Country — possibly non-sustainable!”
Despite legal challenges, the message from Bessent and the administration is unmistakable: Trump’s tariff strategy isn’t going anywhere.
