Bessent says he’s optimistic that Supreme Court will uphold legality of tariffs

U.S. Secretary of the Treasury Scott Bessent speaks to reporters at the White House, Wednesday, Nov. 5, 2025, in Washington. (AP Photo/Allison Robbert)

NEW YORK -- U.S. Treasury Secretary Scott Bessent on Wednesday said he was optimistic that the Supreme Court would uphold the legality of broad tariffs imposed by President Donald Trump on nearly every country under the International Emergency Economic Powers Act.

Bessent told the New York Times Dealbook summit that even if the Supreme Court did not, the Trump administration could recreate those tariffs by using other legal authorities.

Bessent said Trump had normalized the idea of a 15-20 per cent tariff, and denied that the duties were a tax or had set off an inflationary mindset among American consumers.

(Reporting by David Lawder and Andrea Shalal)