Bessent Says Supreme Court Unlikely To Block Trump Tariffs
Treasury Secretary Scott Bessent said it is “very unlikely” the Supreme Court will overturn President Donald Trump’s use of emergency powers to impose tariffs, with a ruling possibly coming as soon as this week.
“I believe that it is very unlikely that the Supreme Court will overrule a president’s signature economic policy,” Bessent said during an appearance on Meet the Press. “They did not overrule Obamacare. I believe that the Supreme Court does not want to create chaos.”
Last month, the Supreme Court upheld a key provision of the Affordable Care Act that allows a federal panel to recommend preventive services insurers must cover at no cost to patients.
Bessent’s remarks came one day after Trump announced plans to impose a new round of tariffs on European goods until what he described as “a Deal is reached for the Complete and Total purchase of Greenland.”
Trump did not specify which statute he is invoking, though the move mirrors prior “liberation day” tariffs imposed under the International Emergency Economic Powers Act, or IEEPA.
Trump said tariffs on goods from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland will begin at 10 percent on Feb. 1 and rise to 25 percent on June 1.
He argued that only the United States has the resources and strategic reach to secure the island and counter growing geopolitical threats in the Arctic.
“We have subsidized Denmark, and all of the Countries of the European Union, and others, for many years by not charging them Tariffs, or any other forms of remuneration,” Trump wrote. “Now, after centuries, it is time for Denmark to give back.”
The tariffs will apply not only to Denmark but also to Finland, France, Germany, the Netherlands, Norway, Sweden, and the United Kingdom, all of which have pledged to deploy military forces to Greenland in support of Danish sovereignty.
Trump said those actions have dangerously escalated tensions.
The Supreme Court is expected to rule before the end of its term on Trump’s use of IEEPA to impose tariffs, though a decision could come this week.
The law grants the president broad authority to deploy economic measures in response to what it defines as an “unusual and extraordinary threat.”
The U.S. government in January ran up a smaller deficit than a year earlier, while tariff collections surged, underscoring how pivotal a long-awaited Supreme Court decision could be to federal fiscal health.
The $30 billion in customs duties collected through tariffs for the month brought the total for the fiscal year to date to $124 billion, which is 304% more than the same time last year.
President Trump first put tariffs on all goods and services coming into the U.S. in April 2025. He also put so-called “reciprocal tariffs” on individual countries. Since then, the White House has been talking to its trading partners and backing off on some of the more aggressive claims while still being tough on issues.
The Supreme Court heard oral arguments last November that questioned the reasons Trump gave for the tariffs. It was thought that the decision would come in January. The high court hasn’t made a decision yet, and the White House is worried that a bad decision could mean the U.S. has to pay back the duties it has already collected.
The tariffs helped slow down the rate at which the budget deficit was growing.
The Treasury Department said that in the fourth month of the fiscal year, the shortfall was about $95 billion. This was about 26% less than the same time last year.
That brought the federal deficit to $697 billion so far this year, which is 17% less than the same time last year, according to numbers that weren’t adjusted for the calendar. Changes to the calendar brought the deficit cut down to 21%.
The $38.6 trillion U.S. debt is still costing the country money in interest. The net interest paid for the month was $76 billion, which was more than all other expenses except for Medicare, Social Security, and health care. This year, gross interest has reached $426.5 billion, up from $392.2 billion last year.
My Husband Left Me in Rags for His Mistress. He Didn't Know My Billionaire Father Owned the Gala.
He took his mistress to the most prestigious gala in the city and left me standing in an old evening dress, then looked me in the eye and said, ""You'll only embarrass me."" He thought humiliating me would be the end of the story. He had no idea that one phone call I'd kept hidden for three years was about to shake everything he had built.
""You really planned to wear that?""
My husband's voice drifted up from the front entrance, cold enough to make my hands tremble. I stood frozen in front of the bedroom mirror, staring at the navy dress I had treasured since before we got married. The fabric was still elegant, but time had begun to show along the sleeves. I smoothed them anyway, hoping they looked less obvious.
Outside, Spencer Reed stepped out of his black SUV looking like the perfect CEO, every inch polished and confident. From the hallway, I heard our housekeeper, Mrs. Evelyn, gently ask if she should tell me it was time to come downstairs.
""There isn't any reason,"" Spencer answered without hesitation. ""Paisley's coming with me.""
His words hit harder than a slap.
I walked to the window and watched him adjust his cuff links without even glancing toward the house. Three years of marriage... and somehow I still kept convincing myself that if I stayed humble enough, patient enough, invisible enough, he would eventually love me.
I was wrong.
The sound of high heels echoed through the marble foyer.
Paisley Dawson slipped beside him wearing a shimmering gold gown that looked like it belonged on a magazine cover. Around her neck sparkled a diamond necklace that cost more than I had probably spent on myself during our entire marriage.
She smiled sweetly before looking me up and down.
""So... you're the wife.""
Her eyes paused on my worn sleeves, and she laughed softly.
""Now I understand why Spencer never brings you anywhere.""
I waited.
Surely my husband would say something.
Anything.
Instead, he smiled at her.
""You look incredible.""
The room suddenly felt colder.
Paisley rested her hand possessively on his arm.
""The Apex Group charity gala isn't a place for someone dressed like... that,"" she said. ""Tonight will be filled with CEOs, senators, investors—people who actually matter. You'd only make Spencer look bad.""
Every word was carefully chosen to wound.
I turned to Spencer, refusing to let them see the anger building inside me.
He didn't defend me.
He didn't deny her words.
He simply offered Paisley his arm.
""We're late.""
That was all.
I stood silently as the front door closed behind them. A few seconds later, the SUV disappeared through the gates, its taillights fading into the evening.
Mrs. Evelyn quietly walked over and touched my arm.
""I'm so sorry, Mrs. Reed. Would you like me to make you some dinner?""
I forced a faint smile.
""No... thank you.""
I climbed the stairs alone and shut the bedroom door behind me. Through the window I could see the skyline where tonight's gala was already beginning, lights glowing above the city like another world I was never meant to enter.
Then my phone vibrated.
A message.
Unknown number.
When I opened it, my stomach dropped.
It was a selfie from the back seat of Spencer's SUV.
Paisley leaned against him with a smug grin, flashing a peace sign while Spencer's reflection appeared beside her in the window.
Below the photo she had written:
""By the time tonight is over, he'll belong to me completely. Have fun waiting at home.""
I didn't cry.
Instead, I walked to my vanity, opened the lowest drawer, and pulled out a small red velvet box I hadn't touched in three years.
Inside rested a SIM card.
The one I promised myself I'd never need again.
I slipped it into my phone.
Only one contact appeared.
Dad.
My thumb hovered over the screen before I finally pressed Call.
One ring.
Two.
Three.
Then I heard the voice I hadn't allowed myself to hear since I walked away from my family.
""Phoebe?""
His voice sounded older... but the concern was still there.
My throat tightened.
""Dad...""
For a moment I couldn't speak.
Then the words finally escaped.
""I want to come home.""
Silence.
Long enough to make my heart pound.
Finally, my father—Raymond Harrell, the billionaire whose name could open almost any door in the country—answered with a voice trembling from emotion.
""My little girl...""
Another pause.
""I'm coming to get you.""
In that instant, everything changed.
Spencer believed tonight would elevate his empire.
He had no idea the most powerful man he'd ever unknowingly offended was already on his way.
