Supreme Court has taken away Trump's leverage with tariff ruling, says Bessent

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 9/13/2026

1. ORCL
2. ADBE
3. RH
4. SPY
5. CPRT
6. ACVA
7. SEDG
8. SPCX
9. TLT
10. PMTS

February 20, 2026 4:27 PM EST

U.S. Treasury Secretary Scott Bessent testifies before a House Financial Services Committee hearing about the annual report of the Financial Stability Oversight Council, on Capitol Hill in Washington, D.C., U.S., February 4, 2026. REUTERS/Kylie Cooper

Feb 20 (Reuters) - The ‌U.S. Supreme ​Court ​has taken away President Donald Trump's leverage with its decision to strike down tariffs ‌imposed under a law meant for use ⁠in national emergencies, U.S. Treasury Secretary Scott Bessent said on ‌Friday.

"The Supreme Court has ‌taken away the President's leverage, but in a way, they have made the leverage that he ​has more draconian because they agreed he does have the right to a full embargo," Bessent ⁠told "The Will Cain Show" on Fox News.

"We will get back to ​the same tariff level for the countries. It will just be in a less ​direct and slightly more convoluted ‌manner," he said.

Trump reacted to the court's ruling on Friday by saying he ⁠would invoke other laws to collect tariffs, and announced a blanket 10% tariff on imports from all other ⁠countries.

Bessent said he believed every country was going to honor ​the trade agreements made with the Trump administration over the last year.

"He (Trump) has a right to a complete embargo, he ‌can just cut countries off ... or he can cut whole product lines off. ‌We can't receive any money. So, I would ⁠call on all countries ‌to honor their ​agreements and move forward," Bessent added.

(Reporting by Bhargav Acharya and Ismail Shakil;Editing by David ‌Ljunggren)


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Reuters

Related Entities

Donald J. Trump