Trump, Costco and tariffs
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A top economic adviser to President Donald Trump hinted at a “backup plan” if the White House loses its Supreme Court fight over tariffs.
Using various other justifications, the White House can implement its tariffs regardless of a Supreme Court loss, said Bessent.
At the heart of the case is Trump’s interpretation of the International Emergency Economic Powers Act (IEEPA), a law typically used to implement sanctions. The Court’s eventual decision could impact the future reach of presidential authority in trade,
The Treasury chief says the administration has a backup plan to preserve its tariff strategy should the Court strike it down.
Costco Wholesale sued the Trump administration before the Court of International Trade, asking it to consider all tariffs collected under the International Emergency Economic Powers Act unlawful.