Bessant says the US has ample options to use in the Supreme Court

Finance Secretary Scott Bessant said on Tuesday that the Supreme Court is ready to hear a landmark case on President Donald Trump's tariffs. He said more options are available in the event of a defeat.

Finance Secretary Scott Bessant said on Tuesday that the Supreme Court is ready to hear a landmark case on President Donald Trump's tariffs. He said more options are available in the event of a defeat.

The court will decide on Wednesday whether Trump exceeded his authority under the International Emergency Economic Powers Act to impose broad tariffs on US trading partners.

At stake is how much leeway presidents have over trade measures as a tool of economic policy. Bessant expressed confidence in a CNBC "Squawk Box" interview that the administration will win, but he also said that if the decision goes the other way, it has additional tools it can use.

"There are many other authorities that could be used, but the IEEPA is by far the clearest, and it gives the United States and the president the most negotiating power," he said. "The remaining authorities are more complex, but they can be effective."

Bessant specifically cited Section 232 of the Trade Expansion Act of 1962, which provides justification based on national security, and Section 301 of the Trade Act of 1974, which regulates unfair trade practices.

However, these would limit the president's ability to impose tariffs on an "emergency" basis, as Trump has done.

"This is very important tomorrow, and SCOTUS will be hearing on it," Bessant said, referring to the court's nickname. "This is a specific policy of the president, and traditionally, SCOTUS has been hesitant to interfere with these specific policies."

In addition to the court case, the Secretary of State also discussed White House-China relations following last week's meeting between Trump and Xi Jinping. The meeting, which took place in South Korea, resulted in agreements that reduced some of the toughest tariffs imposed by both sides.

"It was a very good meeting. Both sides treated it with great respect," Bessant said. He added, "I think President Trump is the only leader President Xi respects. ... The two countries have a good relationship."

Bessant said that two state visits are planned in 2026, one to Beijing and the other to the United States.