Exclusive: "Silly" to worry about SCOTUS overturning tariffs, Lutnick says

There is no need to plan for the possibility the Supreme Court could strike down President Trump's tariffs, because it won't happen and other tariff avenues exist anyway, Commerce Secretary Howard Lutnick tells Mike Allen in the premiere episode of "The Axios Show." Why it matters: Lutnick's brash confidence stands in contrast to Treasury Secretary Scott Bessent's warning the government could face the "terrible" prospect of issuing tens or hundreds of billions of dollars in refunds. Bessent has also warned that other tariff laws already on the books aren't as powerful and would give President Trump less flexibility to negotiate."The Axios Show" is our new series featuring our top reporters and experts interviewing newsmakers shaping politics, media, business, tech and culture.What they're saying: "To think about silly things is a waste of time," Lutnick said. Lutnick insisted the high court would overturn the rulings of the Court of International Trade and a federal appellate court, both of which found Trump lacked the authority under the International Emergency Economic Powers Act (IEEPA) to impose tariffs.Economists estimate roughly 71% of Trump's tariff revenue is at risk if the IEEPA tariffs are struck down. The intrigue: Lutnick said the most important trade deals so far are linked to other tariff authorities, like so-called Section 232 sectoral tariffs on products like steel and aluminum. "So all those big deals that we did that are centered upon those products, those are durable, sustainable, and they are not really what I expect to be even benefited or not benefited by the Supreme Court," Lutnick says. Reality check: Authorities like Section 232 and Section 301 (national tariffs) are much more limited in scope than the powers Trump has claimed under IEEPA.Besssent and others have warned before that Trump won't have the same latitude to impose sweeping new trade rules without the claimed IEEPA authority.Many of the trade deals made so far impose broad tariffs that don't necessarily come from previous Section 232 or 301 determinations, potentially putting them at risk. What to watch: The administration has asked the Supreme Court to hear arguments in early November.

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