🇺🇸 US Treasury Secretary: Tax Refunds Are Not an Issue and Will Not Change in the Long Run

🔹 US Treasury Secretary Scott Bessent stated that tariff refunds will not be an issue for the US Treasury if the Supreme Court issues an unfavorable ruling against President Trump's tariffs policy.

🔹 According to Bessent, the US Treasury currently has approximately $774 billion in cash, enough to cover refund payments if necessary. The refunds will be processed over time, potentially taking from a few weeks to several months or more than a year, not all at once.

🔹 Bessent believes that lawsuits related to tariff refunds mainly benefit businesses and questions whether companies like Costco will pass the refunds back to consumers.

🔹 He emphasized that the level of tariffs passed on to consumers is very low, almost negligible, and that core inflation is currently lower than headline inflation.

🔹 The US Supreme Court is expected to announce some rulings next week, which may include cases related to tariffs, although no specific cases have been confirmed yet.

🔹 President Trump considers tariffs a key policy pillar in his current term, believing that import taxes help bring manufacturing back to the US, strengthen national security, and promote economic growth.

🔹 Treasury Secretary Scott Bessent said his view is that in the long run, this will not make much difference, because the Trump administration can use other legal mechanisms to reimpose similar tariffs, even if there is an unfavorable court ruling.