The United States risks having to refund half the levies collected to date if the Supreme Court upholds the Federal Appeal Court ruling that the ‘reciprocal’ tariffs imposed by President Donald Trump constitute an abuse of power.
The alarm was raised by US Treasury Secretary Scott Bessent during an interview with a national TV station.
Bessent said he was “confident” that the Trump administration would win the battle to save the tariffs, but acknowledged that defeat could have serious repercussions on the federal budget with a massive $1 trillion refund.
Translation by Giles Foster
