Trump Will Impose 10% Tariffs If Supreme Court Strikes His Down, Hassett Says

Group 1 - President Trump has a "backup plan" to impose 10% tariffs if the Supreme Court strikes down his higher "Liberation Day" tariffs [1][3] - The Supreme Court is reviewing the legality of Trump's tariffs imposed under the International Emergency Economic Powers Act (IEEPA), which includes tariffs on China, Mexico, and Canada [2][9] - If the Supreme Court rules against the tariffs, the White House plans to implement 10% tariffs under Section 122 of the Trade Act of 1974, which allows for tariffs of up to 15% for 150 days to address trade imbalances [3][4] Group 2 - The administration expresses confidence that the Supreme Court will side with them, despite indications from justices that they are skeptical of the president's tariffs [5] - The outcome of the Supreme Court ruling is uncertain, particularly regarding the status of tariffs already paid by companies, with over 1,000 companies filing lawsuits for refunds [6][7] - Trump's tariffs have been a central part of his economic agenda, despite warnings from economists about potential negative impacts on consumer prices and the economy [8]