Summary
Commerce Secretary Howard Lutnick believes the Supreme Court will not overturn President Trump's tariffs, despite concerns from other officials. Lutnick states that even without IEEPA, other tariff laws exist. Treasury Secretary Scott Bessent warns overturning tariffs could lead to financial issues.
Key Facts
- Howard Lutnick is the Commerce Secretary.
- Lutnick believes it's unnecessary to plan for the Supreme Court overturning Trump's tariffs.
- Treasury Secretary Scott Bessent warns of possible financial problems if tariffs are overturned.
- The Court of International Trade and a federal appellate court ruled Trump lacked tariff authority under IEEPA.
- About 71% of Trump's tariff revenue is at risk if IEEPA-based tariffs are struck down.
- Lutnick mentions other tariff authorities like Section 232 are in place for products like steel and aluminum.
- Section 232 and 301 tariffs are more limited compared to IEEPA.
- The administration wants the Supreme Court to hear arguments in early November.
