Treasury Secretary Warns of ‘Big Loss’ if Supreme Court Overturns Tariffs

The justices are considering whether the government misapplied the IEPPA in imposing duties on nearly every country in the world, starting last year.

Treasury Secretary Scott Bessent testifies before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Feb. 5, 2026. Madalina Kilroy/The Epoch Times

Treasury Secretary Scott Bessent warned this week that a Supreme Court ruling against the administration’s widespread use of tariffs could cause a “big loss” to the United States.

The Trump administration has cited a law at issue in the Supreme Court case, the International Emergency Economic Powers Act (IEEPA), to impose tariffs on national security grounds, such as dealing with drug-related crises.