Treasury Secy Bessent Says Supreme Court 'Very Unlikely' To Overturn Trump's Use Of Emergency Powers To Impose Tariffs

(MENAFN- Live Mint) Treasury Secretary Scott Bessent said on Sunday (January 18) that it is“very unlikely” the Supreme Court will overturn President Donald Trump's use of emergency powers to impose tariffs on several countries.

A potential ruling is expected as soon as this week.

“I believe that it is very unlikely that the Supreme Court will overrule a president's signature economic policy,” Bessent told NBC.“They did not overrule Obamacare, I believe that the Supreme Court does not want to create chaos.”

The Supreme Court is expected to rule on Trump's use of IEEPA. The law grants the President broad authority to deploy economic tools in response to an“unusual and extraordinary threat.”

Trump used the powers granted under the International Emergency Economic Powers Act (IEEPA) to impose duties on multiple nations.

Trump's Greenland tariffs

Bessent's comments come one day after Trump announced a new set of tariffs on goods from Europe, warning they would remain in place until“a Deal is reached for the Complete and Total purchase of Greenland.”

Trump did not specify which statute he was invoking.

The tariffs will start at 10% on February 1 and rise to 25% on June 1. Countries affected include Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland.

Bessent frames tariffs as national security move

Bessent defended the tariffs as a strategic economic measure.

“The national emergency is avoiding a national emergency,” he said.“It is a strategic decision by the president... he is able to use the economic might of the U.S. to avoid a hot war.”

Also Read | Norway PM says Trump linked Greenland takeover threats to Nobel Peace Prize snub Trump's Greenland ambitions face European rejection

Trump has long sought to acquire Greenland, a self-governing territory of Denmark, and has increased pressure for a US takeover in recent weeks. Leaders in Greenland, Denmark, and across Europe have rejected the idea.

European leaders of the countries targeted by the tariffs responded with a joint statement on Sunday:

“Tariff threats undermine transatlantic relations and risk a dangerous downward spiral. We will continue to stand united and coordinated in our response,” the statement said.

“We stand in full solidarity with the Kingdom of Denmark and the people of Greenland. Building on the process begun last week, we stand ready to engage in a dialogue based on the principles of sovereignty and territorial integrity that we stand firmly behind,” the leaders added.

Also Read | Amnesty Chief urges European nations to resist Trump's 'bullying'

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