The Treasury Department will be forced to issue tariff-related rebates if the Supreme Court upholds a lower court order that blocked a large portion of the tariffs issued by the Trump administration earlier this year, Treasury Secretary Scott Bessent said on Sept. 7.
“We would have to give a refund on about half the tariffs, which would be terrible for the Treasury,” Bessent told NBC News’s “Meet the Press,” meaning that it would represent a loss in federal revenue.
