Treasury Secretary Scott Bessent appears before the House Financial Services Committee in Washington on Wednesday, Feb. 4, 2026. Bessent, asked about the fall in the price of Bitcoin this week, said the government could not try to stop the decline by ordering banks to buy Bitcoin. (Eric Lee/The New York Times)
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The U.S. Supreme Court has taken away President Donald Trump’s leverage with its decision to strike down tariffs imposed under a law meant for use in national emergencies, U.S. Treasury Secretary Scott Bessent said on Friday.
Trump reacted to the court’s ruling on Friday by saying he would invoke other laws to collect tariffs, and announced a blanket 10% tariff on imports from all other countries.
“The Supreme Court has taken away the President’s leverage, but in a way, they have made the leverage that he has more draconian because they agreed he does have the right to a full embargo,” Bessent told “The Will Cain Show” on Fox News.
“We will get back to the same tariff level for the countries. It will just be in a less direct and slightly more convoluted manner,” he said.
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(Reporting by Bhargav Acharya and Ismail Shakil; Editing by David Ljunggren)
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