Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

BumRushDaShow

(160,871 posts)
Mon Sep 8, 2025, 04:30 AM Sep 8

Bessent: US would have to give back half of tariffs if it loses at Supreme Court

Source: The Hill

09/07/25 6:08 PM ET


Treasury Secretary Scott Bessent said the United States would have to refund half of the tariffs if has collected if it loses its case on President Trump’s trade agenda at the Supreme Court.

Bessent said he feels “confident” the Trump administration will win the fight to rescue President Trump’s tariffs, but acknowledged it will be costly if there is a loss in the conservative-leaning High Court.

During an appearance on NBC’s “Meet the Press,” Bessent was asked by host Kristen Welker whether the administration was prepared to offer rebates on the tariffs if the Supreme Court ruled against them. “I am confident that we will win at the Supreme Court,” he said.

Pushed as to whether the administration would “be prepared” to offer rebates, Bessent said the U.S. “would have to give a refund on about half the tariffs,” adding that it “would be terrible for the Treasury.” “There’s no ‘be prepared,'” he said. “If the court says it, we’d have to do it.”

Read more: https://thehill.com/homenews/administration/5490721-trump-tariffs-supreme-court/

27 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Bessent: US would have to give back half of tariffs if it loses at Supreme Court (Original Post) BumRushDaShow Sep 8 OP
Only half of the stolen money? Old Crank Sep 8 #1
Probably because BumRushDaShow Sep 8 #2
There were already legal tariffs. Maybe the net result of the new tariffs so far was double the revenue. thesquanderer Sep 8 #7
I know this game. I used to live in NYC. Walleye Sep 8 #3
NO... 2naSalit Sep 8 #4
How much will Trump pay the Supreme Court to vote his way on the tariff issue? Irish_Dem Sep 8 #5
I know of six pairs of hands that will be extended. joshdawg Sep 8 #11
They've already been paid. rubbersole Sep 8 #15
The money has to keep rolling in for them. Irish_Dem Sep 8 #21
WHO will they refund? groundloop Sep 8 #6
Yes, they could only give them back to the importer who paid them in the first place. thesquanderer Sep 8 #8
Drop all of the prices on necessities back to pre-Covid levels Marthe48 Sep 8 #14
😂 rubbersole Sep 8 #16
It's what I am Marthe48 Sep 8 #20
You're wonderful! rubbersole Sep 8 #23
Thank you Marthe48 Sep 8 #25
Yep.......... Lovie777 Sep 8 #9
re: ""If the court says it, we'd have to do it." - This may be the first time those words were ever uttered by thesquanderer Sep 8 #10
That was my first thought too when I saw that BumRushDaShow Sep 8 #13
Good. Maybe you won't be so foolish and lawless next time. travelingthrulife Sep 8 #12
Not really. cstanleytech Sep 8 #18
We get double fucked then as we already paid higher prices and then big business gets more money returned to them. cstanleytech Sep 8 #17
Give it back, that is just to damn bad. republianmushroom Sep 8 #19
Hopefully Rebl2 Sep 8 #22
I am foregoing a lot of things I want... ProudMNDemocrat Sep 8 #24
The Lutnick family, Trump Tariff, Cantor Fitzgerald refund scheme: sop Sep 8 #26
No not half Figarosmom Sep 8 #27

Old Crank

(6,265 posts)
1. Only half of the stolen money?
Mon Sep 8, 2025, 05:33 AM
Sep 8

Why half?
Every person who had to pay needs to be made whole with interest.

thesquanderer

(12,787 posts)
7. There were already legal tariffs. Maybe the net result of the new tariffs so far was double the revenue.
Mon Sep 8, 2025, 07:36 AM
Sep 8

So that could justify saying they'd have to give back about half of what they've collected, i.e. the amount of the increase over what would have been paid anyway.

Walleye

(42,643 posts)
3. I know this game. I used to live in NYC.
Mon Sep 8, 2025, 06:11 AM
Sep 8

It’s called “give me all the money and then we’ll talk about who it belongs to“

2naSalit

(97,908 posts)
4. NO...
Mon Sep 8, 2025, 06:32 AM
Sep 8

You stupid fuckhead, you'll have to give back ALL OF IT plus interest. What a crock of stinky shit.

Irish_Dem

(75,501 posts)
21. The money has to keep rolling in for them.
Mon Sep 8, 2025, 12:00 PM
Sep 8

They are being humiliated and pilloried on a daily basis
because many of us see them as traitors who sold out democracy and
responsible for the deaths and injury to Americans.

The only thing that keeps up the SC justices' spirits is cash.

groundloop

(13,313 posts)
6. WHO will they refund?
Mon Sep 8, 2025, 07:01 AM
Sep 8

I'm pretty certain that consumers who ultimately paid these tariffs will be left out.

thesquanderer

(12,787 posts)
8. Yes, they could only give them back to the importer who paid them in the first place.
Mon Sep 8, 2025, 07:42 AM
Sep 8

Only the importer would have the ability to know how much was passed along to their customers, on which purchases. They would be in a position to at least theoretically provide refunds, but I doubt there's any realistic way to compel them to do so. Moreover, the importer likely did not sell directly to the final consumer, so there could be one ore more additional links in the chain that could have marked up the cost accordingly before reaching the consumer. So yeah... it's a mess, and the consumer is the likely loser.

Marthe48

(21,937 posts)
14. Drop all of the prices on necessities back to pre-Covid levels
Mon Sep 8, 2025, 10:20 AM
Sep 8

for the same length of time the illegal tariffs were in effect. Revoke all of the cuts. Restore peoples' jobs and health coverage. Kick traitor felon and his accomplices out of power.

I can dream.



rubbersole

(10,617 posts)
16. 😂
Mon Sep 8, 2025, 11:16 AM
Sep 8

Woke! Socialism! Drop...Revoke...Restore...Kick out...😂

Somebody check her family tree's immigration status going back to the Mayflower landing. Dreaming is no longer allowed. By Executive Order from Dear Leader.

Lovie777

(20,489 posts)
9. Yep..........
Mon Sep 8, 2025, 07:45 AM
Sep 8

and the corporations who might be reimbursed will they hire back or hire again, or will they enrich themselves again.

The greed is well over the top.

thesquanderer

(12,787 posts)
10. re: ""If the court says it, we'd have to do it." - This may be the first time those words were ever uttered by
Mon Sep 8, 2025, 08:37 AM
Sep 8

a member of this administration.

cstanleytech

(27,953 posts)
18. Not really.
Mon Sep 8, 2025, 11:32 AM
Sep 8

We already paid higher prices for products to big business to nullify it for them and now they get even more money via a 'return' and that's taxpayer money.
Plus there's zero chance companies will now reduce prices after the Terrible Tariff Tax is gone.
So good? Not really 😞

cstanleytech

(27,953 posts)
17. We get double fucked then as we already paid higher prices and then big business gets more money returned to them.
Mon Sep 8, 2025, 11:28 AM
Sep 8

Money that is taxpayer money.

republianmushroom

(21,487 posts)
19. Give it back, that is just to damn bad.
Mon Sep 8, 2025, 11:35 AM
Sep 8

Should not of been enacted in the first place, being illegal. Start following the laws of the land and you will not have to give things back.

ProudMNDemocrat

(20,264 posts)
24. I am foregoing a lot of things I want...
Mon Sep 8, 2025, 12:37 PM
Sep 8

I know I am going to be spending more money on the things I need, however, like a new pair of running/walking shoes.

sop

(16,213 posts)
26. The Lutnick family, Trump Tariff, Cantor Fitzgerald refund scheme:
Mon Sep 8, 2025, 02:44 PM
Sep 8

'Trump’s Commerce Secretary Loves Tariffs. His Former Investment Bank Is Taking Bets Against Them'

"CANTOR FITZGERALD, A financial services company led by the sons of US commerce secretary Howard Lutnick, is creating a way for investors to bet that President Donald Trump’s signature tariffs will be struck down in court. Traders at the firm’s investment banking subsidiary, Cantor Fitzgerald & Co., say they have the capacity to buy the rights to hundreds of millions of dollars in potential refunds from companies who have paid Trump’s tariffs, according to documents viewed by WIRED."

"Lutnick ran Cantor Fitzgerald for nearly 30 years until he was confirmed by the Senate in February, when he turned over control of the firm to his sons, Kyle and Brandon, who are both in their twenties. Since joining the Trump administration, Lutnick has emerged as one of the most vocal supporters of the president’s tariff policies, which Lutnick has said would raise 'hundreds and hundreds of billions of dollars' in revenue for the United States, eventually eliminating the need for Americans making less than $150,000 to pay taxes."

"But the investment bank that made Lutnick a billionaire is now letting certain clients wager that Trump’s tariffs will eventually be ruled unlawful, at which point companies that have paid the import duties can apply to get their money back."

"In a letter seen by WIRED, a representative from Cantor said the firm was willing to trade tariff refund rights for 20 to 30 percent of what companies have paid in duties. 'So for a company that paid $10 million, they could expect to receive $2-$3 million in a trade,' the representative wrote. 'We have the capacity to trade up to several hundred million of these presently and can likely upsize that in the future to meet potential demand.' "

"Cantor has already landed at least one major deal, according to the letter viewed by WIRED. 'We’ve already put a trade through representing about ~$10 million of IEEPA Rights and anticipate that number will balloon in the coming weeks,' the Cantor representative claimed."

"Experts say the deals are a form of litigation finance, an increasingly popular category of investing in which financial firms seek to make money from potential legal settlements. Many lawsuits can take years to resolve, and the structure can allow individuals and companies to get money upfront or their lawyer fees covered. The catch is that investors may only pay a fraction of what plaintiffs could eventually receive, and profit by pocketing the difference."

Continued at link:

https://www.wired.com/story/cantor-fitzgerald-trump-tariff-refunds/

Latest Discussions»Latest Breaking News»Bessent: US would have to...