Odaily Planet Daily News: The US Supreme Court is scheduled to resume on Friday of this week (January 9) and may issue a ruling on the legality of tariffs implemented by the Trump administration. This highly-watched lawsuit is not only a major test of presidential power but will also have far-reaching impacts on the global economy. US Treasury Secretary Scott Bessent delivered a speech on Thursday at the Minnesota Economic Club, strongly supporting the current tariff policy. Bessent stated that Trump’s “strategic use” of tariffs has successfully prompted domestic and foreign enterprises to increase direct investment in the US, hire workers, and build factories. Facing the risk that the Supreme Court may overturn current tariffs, Bessent revealed that the government has developed alternative plans. Even if the court rules that Trump abused IEEPA, the government can still impose tariffs based on Section 301 and Section 122 of the 1974 Trade Act, and Section 232 of the 1962 Trade Expansion Act. (Golden 10)
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Odaily Planet Daily News: The US Supreme Court is scheduled to resume on Friday of this week (January 9) and may issue a ruling on the legality of tariffs implemented by the Trump administration. This highly-watched lawsuit is not only a major test of presidential power but will also have far-reaching impacts on the global economy. US Treasury Secretary Scott Bessent delivered a speech on Thursday at the Minnesota Economic Club, strongly supporting the current tariff policy. Bessent stated that Trump’s “strategic use” of tariffs has successfully prompted domestic and foreign enterprises to increase direct investment in the US, hire workers, and build factories. Facing the risk that the Supreme Court may overturn current tariffs, Bessent revealed that the government has developed alternative plans. Even if the court rules that Trump abused IEEPA, the government can still impose tariffs based on Section 301 and Section 122 of the 1974 Trade Act, and Section 232 of the 1962 Trade Expansion Act. (Golden 10)