April 15 (Reuters) - The U.S. government has released all funds allocated for security at the soccer World Cup, but the ongoing shutdown of the Department of Homeland Security has affected planning and coordination, a department official told a Senate hearing on Wednesday.
Treasury Secretary Scott Bessent. — Bloomberg WASHINGTON: President Donald Trump ’s tariffs may be restored by July to the levels in place before the Supreme Court struck down many of his levies, Treasury Secretary Scott Bessent says.
“We had a setback at the Supreme Court in terms of the tariff policy, but we will be implementing or conducting Section 301 studies, so the tariffs could be back in place at the previous level by beginning of July,” Bessent said on Tuesday at a Wall Street Journal event in Washington.
The Treasury secretary said because the Section 301 tariff authority has already been tested in the courts, business leaders are able to start planning and making decisions around capital expenditures.
Trump is seeking to restore his tariff wall using different authorities after the high court ruled that his use of emergency powers to impose those earlier duties was unconstitutional.
After the Supreme Court struck down many of his global tariffs, Trump imposed a temporary 10% tariff that covers many imports. That levy is set to expire on July 24.
He also launched several Section 301 investigations – including probes into other nations’ industrial overcapacity and forced-labour practices – that could lead to tariffs in the coming months.
Bessent said that while it was hard to say when the consequences of the Iran war would “catch up” with the US economy, it was in strong shape.He added that it is a good sign that core inflation, which excludes volatile energy and food prices from the reading, continues to decline. — Bloomberg
Ustariffs Tradepolicy Section301 Supremecourt Trump Globaltrade Usgrowth Inflation
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