Treasury Secretary Scott Bessent Defends Tariffs as Economic Tool, Denies They Are a Tax on Americans | Trump Administration Policy
Treasury Secretary Scott Bessent Defends Tariffs as Economic Tool, Denies They Are a Tax on Americans Key Takeaways Massive refund threat : Treasury may need to refund half of all collected tariffs - nearly $90 billion - if Supreme Court rules against Trump administration Legal confidence : Bessent claims he's "confident" SCOTUS will uphold tariffs but admits administration has backup plans using other legal authorities Economic argument : Administration argues tariffs boost domestic investment and strengthen economy despite recent job market softness Geopolitical tool : Tariffs used as leverage against multiple countries including China, Russia, EU, and others to advance US interests Who Exactly is Scott Bessent Anyway? So let's talk about the guy behind all these tariff declarations - Scott Bessent ain't your typical Treasury Secretary. For starters, he's actually the first openly gay person to hold this position, which puts him fifth in the presidential lin...