Treasury Will Be Forced to Refund ‘Half the Tariffs’ If Supreme Court Rules Against Trump, Bessent Says

The Treasury Department will be forced to issue tariff-related rebates if the Supreme Court upholds a lower court order that blocked a large portion of tariffs that were issued by the Trump administration earlier this year, said Secretary Scott Bessent on Sunday.

“We would have to give a refund on about half the tariffs, which would be terrible for the Treasury,” Bessent told NBC News’s “Meet the Press,” meaning that it would represent a loss in federal revenue.