Treasury Secretary Scott Bessent stated on Sunday that it is "very unlikely" the Supreme Court will overturn President Donald Trump's tariffs imposed under the International Emergency Economic Powers Act (IEEPA).
He conveyed this during an appearance on NBC's "Meet the Press." The Supreme Court is expected to decide on the legality of Trump's use of IEEPA to impose these tariffs as soon as this week.
President Trump announced a new set of tariffs on European goods, which are set to begin at 10% on February 1, 2026. The tariffs will escalate to 25% by June 1, 2026.
The countries affected by these tariffs include Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland.
European leaders from the countries targeted by the new tariffs issued a joint statement condemning the actions. They stated that tariff threats undermine transatlantic relations and pose a risk of a dangerous downward spiral.
The leaders expressed solidarity with Denmark and Greenland, emphasizing the importance of sovereignty and territorial integrity.
Bessent emphasized that the new tariffs are a response to what he described as a national emergency. He said, "The national emergency is avoiding a national emergency," indicating that the tariffs are a strategic decision by the president to use U.S. economic power to avoid conflict.
Trump has long sought to acquire Greenland, an Arctic territory of Denmark, which has been a significant point of tension in U.S.-European relations.
In light of these developments, Vice President JD Vance and Secretary of State Marco Rubio recently met with Danish Foreign Minister Lars Lokke Rasmussen and Greenland's Prime Minister Vivian Motzfeldt.
The discussions focused on Greenland's future and the establishment of a high-level working group to address the issues surrounding U.S. interests in the territory.
The Supreme Court's decision regarding Trump's tariffs could come as early as this week. Meanwhile, the situation continues to escalate, with both sides preparing for potential consequences stemming from these new tariffs.
The international community will be closely watching how the U.S. navigates this complex diplomatic issue.