US may reinstate tariffs after Supreme Court blocks emergency tariffs
The US government is thinking about reintroducing tariffs on some imported goods after a Supreme Court ruling blocked Trump-era emergency tariffs.
Treasury Secretary Scott Bessent says they're looking at Section 301 studies to make this happen, with the old tariff rates possibly returning by July 2026.
The current temporary 10% import charge is set to expire on July 24, 2026.
Scott Bessent upbeat despite trade probes
The government has started Section 301 investigations into industrial overcapacity and forced labor in other countries, which could lead to more tariffs aimed at tackling unfair trade.
Even with all this tariff talk, Bessent sounds upbeat about the economy. He expects growth above 3% this year and says core inflation is dropping (except for things like food and gas).
He's also questioning the Fed's inflation forecasts, hinting that interest rates might end up lower than people think.