Treasury Secretary Scott Bessent wants everyone to know the government isn't worried about writing refund checks. Speaking with Reuters, he made it clear the U.S. Treasury has more than enough cash to handle potential tariff refunds if the Supreme Court decides President Donald Trump overstepped his authority with those "Liberation Day" tariffs.
Money's Not the Problem
The Treasury is sitting on nearly $774 billion in cash as of Thursday, which should comfortably cover any refunds that might need to be distributed. Bessent noted the process could take anywhere from several weeks to a full year, but the money's there either way.
The real question before the Supreme Court isn't about funds. It's about power. Specifically, whether Trump can invoke the International Emergency Economic Powers Act to slap tariffs on virtually every foreign trading partner by declaring trade deficits a national emergency. Trump called these "reciprocal" tariffs, framing massive trade imbalances as an urgent threat to American interests.
Refunds Might Get Complicated
Bessent doesn't think the Supreme Court will rule against the tariffs anyway. But if they do, he pointed out an interesting wrinkle: most refunds would go to companies that already passed those extra costs along to their customers. So it's not exactly like consumers would see that money back in their pockets.
He also suggested a negative ruling might not be a simple yes-or-no answer, which could make the refund process messier than anyone expects. Trump himself posted on Truth Social that overturning the tariff could "literally destroy" the United States.