U.S. Treasury Secretary Scott Bessent [AP/Yonhap News]

U.S. Treasury Secretary Scott Bessent stated on the 22nd (local time) that he hopes trading partners will continue to uphold their existing trade agreements with the United States, even following the Supreme Court's ruling that reciprocal tariffs are unlawful.

In an interview with CNN that day, Secretary Bessent said, "We are in constant contact with our foreign trading partners, and all of them wish to maintain the trade agreements that have already been established."

Secretary Bessent reiterated, "What the Supreme Court determined is that tariffs cannot be imposed based on the International Emergency Economic Powers Act (IEEPA)," adding, "The President has other authorities."

On the 20th, U.S. President Donald Trump signed a proclamation to impose a "10% global tariff" on all countries, citing Section 122 of the Trade Act, while stating that he would maintain his tariff policy by utilizing alternative means.

Following his announcement on the 21st that he would increase the global tariff rate to 15%, further measures, such as additional executive orders, are expected to follow.

Section 122 of the Trade Act grants the President the authority to impose tariffs of up to 15% for a maximum of 150 days to address balance-of-payments issues. For these measures to continue beyond the 150-day period, congressional approval for an extension is required.

Secretary Bessent explained, "Section 122 of the Trade Act serves as a sort of bridge rather than a permanent measure," adding, "During that period, tariff investigations under Section 232 of the Trade Expansion Act and Section 301 of the Trade Act will be completed, and Section 122 may no longer be necessary after five months."

He noted, "Tariffs under Section 232 of the Trade Expansion Act and Section 301 of the Trade Act have survived over 4,000 lawsuits since the first Trump administration," and stated, "Ultimately, we will be able to maintain the same tariff levels as before."

Secretary Bessent emphasized that the Treasury Department's tax revenue projections for 2026 remain unchanged.

Regarding the issue of tariff refunds, he said, "The Supreme Court did not address the refund issue and instead left it to the lower courts to decide," adding, "We will abide by the court's decision (on refunds), but it could take weeks or months for a ruling to be made."