U.S. Treasury Secretary Scott Bessent on Monday expressed confidence that the U.S. Supreme Court will uphold President Donald Trump's use of a 1977 emergency powers law to impose sweeping tariffs on most trading partners, but he said the administration has a backup plan if it does not.

Bessent told Reuters he was preparing a legal brief for the U.S. solicitor general, who will oversee the government's appeal to the Supreme Court, that will underscore the urgency of addressing decades of trade imbalances and stopping the flow of deadly fentanyl into the United States.

A divided U.S. appeals court ruled on Friday that most of Trump's tariffs are illegal, undercutting the Republican president's use of the levies as a key economic policy tool. The court allowed the tariffs to remain in place

See Full Page