Summary
The Trump administration is preparing backup plans in case the Supreme Court rules against existing tariffs. Kevin Hassett, Director of the National Economic Council, stated that there are alternative legal options to implement similar tariffs if needed. The administration might use Section 301 of the Trade Act of 1974 to address trade imbalances if the court's decision is unfavorable.
Key Facts
- The Trump administration is concerned about a potential Supreme Court decision against current tariffs.
- Kevin Hassett discussed the administration's plans on various financial news shows.
- If the court rules against them, there are other legal ways to impose similar tariffs.
- U.S. Trade Representative Jamieson Greer is working on these backup plans.
- Section 301 of the Trade Act of 1974 allows temporary tariffs to adjust trade imbalances.
- The administration is confident they will win the court case, but is preparing just in case.
