US Treasury Secretary Optimistic About Supreme Court Tariff Case

According to Jinse Finance, The Wall Street Journal reported that after attending oral arguments at the U.S. Supreme Court regarding a tariff case, U.S. Treasury Secretary Bessent expressed at the White House that he is "very optimistic" about the government's chances of winning. Bessent also addressed an apparent contradiction between President Trump and his Deputy Attorney General when discussing tariffs: just on Wednesday, Trump stated that tariffs are an important source of revenue for the federal government, while his lawyer argued before the court that raising revenue is not the goal of taxation—a significant legal distinction. Bessent said that tariffs are designed as a wall to protect U.S. manufacturing, and he believes that as domestic industry develops and replaces imports, tariff revenue will decrease over time. "So the goal is balance," Bessent said.