US Treasury Secretary: "Combining Sections 122, 232 and 301 would not significantly change tariff revenue"
Summary
- US Treasury Secretary Scott Bessent said tariff revenue is expected to be effectively unchanged even if Sections 122, 232 and 301 are combined.
- He said that following the Supreme Court’s ruling invalidating the tariffs, the administration is being seen as potentially pursuing a strategy to reconstruct tariffs on other legal grounds to preserve the effect of existing tariffs.
- He said the actual implementation approach and whether clashes emerge with Congress and the judiciary are expected to be key variables.
US Treasury Secretary Scott Bessent said tariff revenue is unlikely to change significantly if trade-related statutory provisions are applied in combination.
According to Walter Bloomberg on the 20th (local time), Bessent said, "Treasury estimates suggest that if Sections 122, 232 and 301 are combined, tariff revenue is expected to be effectively unchanged."
The remarks are seen as aligning with moves by the administration to reconstruct tariffs on alternative legal grounds after the Supreme Court ruling invalidating the tariffs. A strategy is being discussed under which the administration could combine Section 122 (Trade Expansion Act), Section 232 (national security-based tariffs) and Section 301 (tariffs responding to unfair trade practices) to preserve the effect of existing tariffs.
Going forward, the key variables are expected to be the specific implementation approach and whether clashes emerge with Congress and the judiciary.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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