Scott Bessent: It‘s Very Interesting That SCOTUS Said That the President Can‘t Raise $1 of Revenue with Tariffs, But Can Put on a Full Embargo

RUSH EXCERPT:
BESSENT: "Again, Dana, that‘s not correct that the what the Supreme Court said is that the president cannot use the ieepa, the emergency economic powers act to do this. The the president does have other authorities. And as I said, the section 232 tariffs and the section 301 tariffs have withstood more than 4000 have withstood more than 4000 lawsuits. So it was very narrow. And it‘s the it‘s very interesting that the Supreme Court said that the president can‘t raise $1 of revenue with tariffs, but he can put on a full embargo. So they reaffirmed his ability to block all trade. He just cannot accept $1 for the trade. And I will tell you, like the tariff revenues they have come into the treasury but more importantly, the ultimate goal of tariffs is rebalancing trade and bringing back the bringing our trade deficits into balance. We‘ve seen our the goods sector, the deficit with our trading partners dropped by 17%. We‘ve seen our bilateral deficit with China drop substantially. And we are seeing trillions of investments and factories coming back to the U.S. because of the tariffs."