Unlikely Supreme Court will overrule Trump tariffs

Treasury Secretary Scott Bessent on Sunday said it’s “very unlikely” that the Supreme Court will overturn President Donald Trump‘s use of emergency powers to impose tariffs, with a potential decision from the court looming as early as this week.

“I believe that it is very unlikely that the Supreme Court will overrule a president’s signature economic policy,” Bessent said on NBC’s “Meet the Press.” “They did not overrule Obamacare, I believe that the Supreme Court does not want to create chaos.”

In June, the Supreme Court upheld a key Affordable Care Act provision that set up a panel to recommend preventive care services that insurers must provide at no cost to patients.

Bessent’s comments come one day after Trump said he would impose a new slate of tariffs on goods coming from Europe until “a Deal is reached for the Complete and Total purchase of Greenland.”

Trump did not specify in his Truth Social post which statute he was invoking to impose the tariffs, though the move appears to mirror the “liberation day” duties he has imposed on dozens of nations under the International Emergency Economic Powers Act.

The Supreme Court is set to rule on Trump’s use of the IEEPA to impose tariffs before the end of its term, but a decision could come as soon as this week. IEEPA gives the president wide latitude to use economic tools in response to an “unusual and extraordinary threat.”

Bessent said Trump’s new tariffs on Europe regarding Greenland are a response to an emergency.

“The national emergency is avoiding a national emergency,” Bessent said. “It is a strategic decision by the president … he is able to use the economic might of the U.S. to avoid a hot war.”

Trump has long sought to acquire Greenland, the Arctic territory of Denmark, and has ratcheted up his pressure campaign for a U.S. takeover of the island in recent weeks. Leaders in Greenland, Denmark and across Europe have widely rejected Trump’s demands to take over the island.

The Trump administration claims that a U.S. acquisition of Greenland is critical to national security to counter the expansion of Russia and China in the region.

CNBC has reached out to the White House and the Treasury Department to clarify what statute Trump is using to impose the new European tariffs.

This story is developing. Please check back for updates.