U.S. Treasury Faces Legal Challenges on Tariffs Amid Fentanyl Crisis

In a recent statement, U.S. Treasury Secretary Scott Bessent expressed confidence that the Supreme Court will support President Trump's imposition of tariffs under a 1977 law. These tariffs, aimed at addressing trade imbalances and the inflow of fentanyl, faced a setback after a U.S. appeals court's ruling deemed them mostly illegal.

Bessent is preparing a legal brief for the solicitor general, emphasizing the urgency of these economic issues. The U.S. Court of Appeals for the Federal Circuit's decision has allowed time until October 14 for the Trump administration to appeal.

Bessent highlighted the potential use of other legal authorities like the Smoot-Hawley Tariff Act to impose tariffs if needed. He underscored the fentanyl crisis as a national emergency, positioning it as a legitimate reason for enacting such measures.

(With inputs from agencies.)