Treasury Secretary Scott Bessent said it is \u201cvery unlikely\u201d the Supreme Court will overturn President Donald Trump\u2019s use of emergency powers to impose tariffs, with a ruling possibly coming as soon as this week.<\/p>\n
\u201cI believe that it is very unlikely that the Supreme Court will overrule a president\u2019s signature economic policy,\u201d Bessent said during an appearance on Meet the Press. \u201cThey did not overrule Obamacare. I believe that the Supreme Court does not want to create chaos.\u201d<\/p>\n
Last month, the Supreme Court upheld a key provision of the Affordable Care Act that allows a federal panel to recommend preventive services insurers must cover at no cost to patients, CNBC reported.<\/p>\n
Bessent\u2019s remarks came one day after Trump announced plans to impose a new round of tariffs on European goods until what he described as \u201ca Deal is reached for the Complete and Total purchase of Greenland.\u201d<\/p>\n
Trump did not specify which statute he is invoking, though the move mirrors prior \u201cliberation day\u201d tariffs imposed under the International Emergency Economic Powers Act, or IEEPA.<\/p>\n
Trump said tariffs on goods from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland will begin at 10 percent on Feb. 1 and rise to 25 percent on June 1.<\/p>\n
He argued that only the United States has the resources and strategic reach to secure the island and counter growing geopolitical threats in the Arctic.<\/p>\n
\u201cWe have subsidized Denmark, and all of the Countries of the European Union, and others, for many years by not charging them Tariffs, or any other forms of remuneration,\u201d Trump wrote. \u201cNow, after centuries, it is time for Denmark to give back.\u201d<\/p>\n
The tariffs will apply not only to Denmark but also to Finland, France, Germany, the Netherlands, Norway, Sweden, and the United Kingdom, all of which have pledged to deploy military forces to Greenland in support of Danish sovereignty.<\/p>\n
Trump said those actions have dangerously escalated tensions.<\/p>\n
\u201cThis is a very dangerous situation for the safety, security, and survival of our planet,\u201d he wrote. \u201cThese countries have put a level of risk in play that is not tenable or sustainable.\u201d<\/p>\n
The Supreme Court is expected to rule before the end of its term on Trump\u2019s use of IEEPA to impose tariffs, though a decision could come this week. The law grants the president broad authority to deploy economic measures in response to what it defines as an \u201cunusual and extraordinary threat.\u201d<\/p>\n
Bessent said the administration views the Greenland-related tariffs as an emergency action.<\/p>\n
\u201cThe national emergency is avoiding a national emergency,\u201d Bessent said. \u201cIt is a strategic decision by the president. He is able to use the economic might of the U.S. to avoid a hot war.\u201d<\/p>\n
Trump has long sought to acquire Greenland, an autonomous territory of Denmark, and has intensified pressure for a U.S. takeover in recent weeks. Leaders in Greenland, Denmark, and across Europe have rejected the proposal.<\/p>\n
In a joint statement Sunday, leaders from Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden, and the United Kingdom said tariff threats risk undermining transatlantic relations.<\/p>\n
\u201cWe stand in full solidarity with the Kingdom of Denmark and the people of Greenland,\u201d the statement said, adding that any dialogue must respect sovereignty and territorial integrity.<\/p>\n
Vice President JD Vance and Secretary of State Marco Rubio met last week at the White House with Danish Foreign Minister Lars Lokke Rasmussen and Greenland Foreign Affairs Minister Vivian Motzfeldt.<\/p>\n
Following the meeting, U.S. and Danish officials said they would form a high-level working group to discuss Greenland\u2019s future.<\/p>\n
The Trump administration has argued that acquiring Greenland is critical to U.S. national security to counter expanding Russian and Chinese influence in the Arctic.<\/p>\n
CNBC reported it has contacted the White House and the Treasury Department seeking clarification on the legal authority Trump is using to impose the new tariffs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Treasury Secretary Scott Bessent said it is \u201cvery unlikely\u201d the Supreme Court will overturn President Donald Trump\u2019s use of emergency powers to impose tariffs, with a ruling possibly coming as soon as this week. \u201cI believe that it is very unlikely that the Supreme Court will overrule a president\u2019s signature economic policy,\u201d Bessent said during […]<\/p>\n","protected":false},"author":1,"featured_media":8954,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-8953","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-daily-news"},"_links":{"self":[{"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/posts\/8953"}],"collection":[{"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/comments?post=8953"}],"version-history":[{"count":1,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/posts\/8953\/revisions"}],"predecessor-version":[{"id":8955,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/posts\/8953\/revisions\/8955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/media\/8954"}],"wp:attachment":[{"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/media?parent=8953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/categories?post=8953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/tags?post=8953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}