Bessent says he is confident the US Supreme Court will not trash Trump’s tariffs

US Treasury Secretary Bessent with wide-ranging comments from an inter view with Reuters.

In brief:

• Says he’s confident that Supreme Court will uphold Trump tariffs
• There are other statutes that could be used to justify tariffs but they are not as efficient, not as powerful
• U.S. is making headway with Europe on need to crack down on India over Russian oil purchases
• Plays down significance of China-hosted meeting in Shanghai of leaders from non-Western countries as ‘performative’
• Accuses India and China of being ‘bad actors’ in Ukraine by fueling Russian war machine

Earlier from Bessent:

• Bessent: There is a very good chance Miran is seated at Fed before Sept meeting

Bessent also did the mean girls thing to Cook:

• Bessent says that Lisa Cook hasn’t denied allegations of mortgage fraud

Wow, bitchy!

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On tariffs, Bessent is referring to a US Court binning them. But that decision will go to appeal:

• US Federal Appeals court rules that most of Trump’s tariffs are illegal
• Tariffs quagmire dominates the setting to start the week

This article was written by Eamonn Sheridan at investinglive.com.