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Bescent: The more tariff revenue there is, the harder it is to overturn Trump's trade policy.
On August 13, U.S. Treasury Secretary Basent said in an interview with Fox Business Channel on Tuesday that as tariff revenues continue to flow into the U.S. Treasury, if the lower court's tariff lawsuit is eventually appealed to the Supreme Court, the rising fiscal revenue will make it difficult for the Supreme Court to make a ruling unfavorable to the Trump administration. Basent stated, "The more fiscal revenue there is, the harder it is for the Supreme Court to make a ruling against us." This statement is in response to a case currently being heard by the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. The case questions the legality of Trump's so-called "reciprocal" tariffs, as well as another set of tariffs imposed on Canada, Mexico, and China earlier this February. ( Jin10 )