Overview

• Treasury Secretary Scott Bessent said on NBC’s Meet the Press that the government would have to refund about half of the collected duties if the Supreme Court strikes down President Trump’s tariff program, calling that outcome terrible for the Treasury.
• The administration has requested expedited Supreme Court review following the Federal Circuit’s decision, with filings proposing arguments in early November and a rapid ruling thereafter.
• A 7–4 en banc panel of the Federal Circuit found no clear congressional authorization in IEEPA for reciprocal and trafficking tariffs, but stayed its mandate so the contested duties continue through Oct. 14.
• Officials say alternative legal tools could be used if the IEEPA route fails, with National Economic Council Director Kevin Hassett citing options such as Section 232 or sector-specific actions that Bessent acknowledged would reduce negotiating leverage.
• Treasury data show more than $183 billion in tariff receipts so far this year, and administration filings warn that a prolonged timeline could leave $750 billion to $1 trillion potentially subject to refund if the courts ultimately invalidate the program.