Scott Bessent explained to CNN’s Dana Bash how the Trump administration plans to restore its previous tariff levels after the Supreme Court struck down its authority to impose sweeping global tariffs under the International Emergency Economic Powers Act (IEEPA).
In response to the ruling, President Trump outlined new tariffs he intends to implement under alternative statutory authorities. Bessent detailed how those statutes could be used to reach prior tariff rates and described the process the administration would follow.
"This 122 authority is good for 150 days," Bessent said. "During that time, we will do study on Section 232, which will be done by the Commerce Department, Section 301, which will be done by USTR. Those tariffs remain in effect and have withstood more than 4,000 challenges since the President's first term."
The statutes Bessent referenced include Section 122 of the Trade Act of 1974, which allows the president to impose an across-the-board tariff of up to 15 percent for a limited period of up to 150 days, to address balance-of-payments concerns. He also pointed to Section 232 of the Trade Expansion Act of 1962, which authorizes tariffs after an investigation by the Commerce Department has found that certain imports threaten U.S. national security. In addition, Section 301 of the Trade Act of 1974 permits the United States Trade Representative (USTR) to impose tariffs or take other measures in response to unfair trade practices, including forced technology transfer or discriminatory policies.
"So during that time, it is very likely that those studies will result in higher 232s, higher 301s, and it will get us back to the same tariff level," Bessent added. "We've been in touch with our foreign trading partners, and all of them want to keep the trade deals that have been set. You know, Dana, we've had great economic results over the past year, 4.1 percent, second quarter GDP, 4.3, 4.4, and the third quarter, and it would have been a very strong fourth quarter if the Democrats hadn't shut down the government to hurt the American people."
🚨 BREAKING: In a devastating loss for the traitors, Sec. Scott Bessent reveals ALL FOREIGN TRADING PARTNERS said they're KEEPING the trade deals they made because of the tariffs
— Eric Daugherty (@EricLDaugh) February 22, 2026
"All of them want to keep them!"
The people who wanted us to fail LOSE! 🔥pic.twitter.com/tGDRpevQ98
Bash then asked whether the Trump administration would refund the roughly $134 billion it had collected in tariff revenue. The Treasury secretary acknowledged that the Supreme Court had not addressed whether IEEPA tariff revenue must be returned, and had pushed it back to lower courts. He added that the administration would not get ahead of the courts.
"Well, Dana, that's not the big question. Let's just level set here," Bessent said. "What the Supreme Court did was a very narrow reading of the President's authority under the IEEPA tariffs. We have other tariff authorities which have been functioning, Section 232 tariffs, Section 301 tariffs. And, Dana, when you say it's a big question, that's bad framing because the Supreme Court didn't even address that."
"The Supreme Court remanded it down to a lower court. And, you know, we will follow what they say, but that could be weeks or months when we hear them," Bessent added. "So the Supreme Court did not address refunds."
Bash continued to press Bessent on the prospect of refunds, but he maintained that he would not get ahead of the courts.
"Well, the Justice Department told a federal appeals court in this very case last year if tariffs imposed on plaintiffs during these appeals are ultimately held unlawful, then the government will issue refunds to plaintiffs," Bash said.
"Again, I'm not going to get out ahead of the court," Bessent replied. "We will follow the court's direction. But, as I said, that could be weeks or months away. That decision was not rendered on Friday."
🚨 JUST IN: Sec. Scott Bessent just EMBARRASSED CNN's Dana Bash on national TV!
— Eric Daugherty (@EricLDaugh) February 22, 2026
"The big question: will you REFUND $134B in tariffs?"
BESSENT: "That's NOT the big question, that's bad framing!"
BASH: It's up to you!
BESSENT: "No, it's up to the COURT."pic.twitter.com/SvCNO4CpyB
Editor’s Note: Thanks to President Trump’s leadership and bold policies, America’s economy is back on track.
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