Scott Bessent, U.S. Treasury Minister, said on the 22nd (local time) that he hopes trading partners will keep their existing "trade agreements" in place even after the Supreme Court's ruling that reciprocal tariff are illegal.
Minister Bessent said in an interview with U.S. broadcaster CNN that day, "We are staying in touch with our trading partners, and all of them want their existing trade agreements with the United States to remain." He added, "What the Supreme Court decided is that tariffs cannot be imposed under the International Emergency Economic Powers Act (IEEPA)," and emphasized again, "The president has other authorities."
U.S. President Donald Trump, saying he would maintain tariff policy by using alternative tools, signed a proclamation on the 20th to impose a "10% global tariff" worldwide under Section 122 of the Trade Act. On the 21st, he also said the global tariff rate would be raised to 15%. He signaled follow-up steps, including additional executive orders.
Section 122 of the Trade Act gives the president the authority to impose tariffs of up to 15% for up to 150 days to address a balance of payments problem. After 150 days, Congress must approve an extension to continue the measure.
Minister Bessent said, "Section 122 of the Trade Act is more of a bridge than a permanent measure," adding, "During that period, tariff investigations under Section 232 of the Trade Expansion Act and Section 301 of the Trade Act will be completed, and after five months, Section 122 may no longer be needed." He continued, "Tariffs under Section 232 of the Trade Expansion Act and Section 301 of the Trade Act have withstood more than 4,000 lawsuits since Trump's first term," adding, "In the end, we will be able to maintain the same level of tariffs as before." On the issue of tariff refunds, he said, "The Supreme Court did not address refunds and left the decision to the lower courts," adding, "We will follow the court's decision (on refunds), but it could take weeks or months for a decision to come out."