06/11/2025
šØ UPDATE: Treasury Secretary Scott Bessent weighed in after attending the Supreme Court hearing on President Trumpās IEEPA tariff powers ā and he didnāt mince words.
š¬ āThe Solicitor General made a strong, convincing case for why the President must have authority under IEEPA to respond to the emergencies heās declared.ā
Bessent said the plaintiffsā lawyers ā Neal Katyal and Benjamin Gutman ā showed a ābasic misunderstandingā of Trumpās trade strategy.
š„ His message was clear:
āPresident Trumpās use of IEEPA isnāt about raising revenue ā itās about restoring fairness, reviving U.S. manufacturing, fixing our massive trade deficits, and protecting national security.ā
He added: āItās laughable that they argued a President could impose a total embargo but not a 1% tariff. Makes zero sense.ā
šŗšø Bessent wrapped it up perfectly:
āEconomic security is national security. IEEPA gives President Trump the power to defend our economy, our workers, and our nation.ā