Speaking on NBC’s Meet the Press, Bessent said, “We would have to give a refund on about half the tariffs, which would be terrible for the Treasury. If the court says it, we’d have to do it.” He stressed again that a tariff rebate would be mandatory if the ruling goes against the administration.

The case stems from Trump’s move to impose sweeping tariffs on nearly all US trading partners under the International Emergency Economic Powers Act. In August, a federal appeals court ruled that Trump exceeded his authority, arguing that tariff powers belong to Congress.

National Economic Council Director Kevin Hassett said the government could use other tools, like Section 232 probes on steel and aluminum, to impose tariffs. Trump has asked the Supreme Court to quickly overturn the ruling.

US businesses have already paid more than $210 billion in tariffs. The appeals court paused its ruling until October 14, giving Trump time to appeal.

The post US Tariffs Rebate Looms if Supreme Court Rules Against Trump appeared first on India Podcast.