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Treasury Secretary Scott Bessent @SecScottBessent - A short time ago, I arrived back at @USTreasury after watching arguments before the U.S. Supreme Court on the International Emergency Economic Powers Act (IEEPA).
U.S. Solicitor General D. John Sauer presented strong, persuasive arguments on the necessity of using IEEPA tariff authority to confront the emergencies President Trump has declared.
More importantly, the plaintiffs’ attorneys, Neal Katyal and Benjamin Gutman, espoused arguments that reflected foundational misunderstandings and misrepresentations about the Trump Administration’s trade goals.
Using IEEPA, President Trump has sought to rebalance decades of unfair trade against the United States that has brought us to a tipping point. The goal of his agenda is bringing back manufacturing and balancing the crisis-level deficits and trade barriers with our global trading partners.
The tariff income is incidental to these urgent goals – not the underlying reason for their application. In fact, as I have said many times, as the terms of trade are made more fair, U.S. manufactured items will replace imported goods. Tariff revenues will shrink, and U.S. domestic tax receipts will surge.
Showing their dramatic lack of economic understanding, Messrs. Katyal and Gutman argued that a President does have the authority to impose an embargo or quotas on other countries because those actions do not affect government revenues. Of course, they do. What embarrassing statements to make in front of SCOTUS.
Furthermore, in a statement bordering on the absurd, Oregon Solicitor General Gutman said that he believes IEEPA gives POTUS authority to impose a full embargo on a country but not a 1% tariff.
President Trump has used the IEEPA authority to address the fentanyl crisis, bring us back from the edge on trade policy, secure rare earths from China, and curtail the purchases of Russian oil – all urgent national security issues.
Economic Security is National Security, and IEEPA provides a powerful tool for President Trump to protect our people, our economy, and our nation.
https://x.com/SecScottBessent/status/1986188114310930799

Treasury Secretary Scott Bessent @SecScottBessent - A year ago today, President Trump secured a landslide victory — sweeping all seven swing states, winning the popular vote, and leading the charge to Make America Great Again.
In just nine months, we’ve rebuilt our economy, strengthened our borders, and reignited American greatness, and the best is yet to come.
https://x.com/SecScottBessent/status/1986075662730305914

Treasury Secretary Scott Bessent @SecScottBessent - Since Inauguration Day, market pundits and so-called “experts” have continually attempted to undermine the Administration through negative rhetoric and fearmongering, pushing narratives like “Sell America.” And since that day, they have been dead wrong.
Thanks to the One Big Beautiful Bill, tariff revenue, and lower inflation, the S&P 500 sits near all-time highs. And just as importantly, the U.S. Treasury market’s total returns year to date are 6% (its best year since 2020 and the best of all developed bond markets this year). In fact, U.S. borrowing costs across the curve (from 2-year notes all the way to 30-year bonds) are down year to date.
Other developed bond markets cannot say the same. The U.S. 10-year term premium is basically unchanged while term premiums in other bond markets are rising. Lower Treasury borrowing costs mean lower corporate borrowing costs, lower mortgage rates, and lower car payments for Americans. The U.S. Treasury market is the world’s deepest and most liquid market, and it shows.
https://x.com/SecScottBessent/status/1986168851684327503
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