U.S. Treasury Secretary Scott Bessent speaks at an economic event in Washington D.C. on the 14th (local time). [Yonhap News]  

The U.S. administration of Donald Trump has stated that it can reinstate its tariff policy, which was halted by a Federal Supreme Court ruling, by early July.

Speaking at an event hosted by the Wall Street Journal (WSJ) in Washington D.C. on the 14th (local time), Treasury Secretary Scott Bessent referred to Section 301 of the Trade Act and said, "We can reimpose tariffs at existing levels as early as the beginning of July."

Previously, President Trump had imposed broad reciprocal tariffs based on the International Emergency Economic Powers Act (IEEPA), but this was blocked by the Supreme Court's unconstitutionality ruling.

Currently, the Trump administration is imposing a "10% global tariff" on the entire world based on Section 122 of the Trade Act and has also initiated a Section 301 investigation to further increase tariff rates.

Section 301 is a provision that allows for measures such as imposing additional tariffs in response to unfair trade practices by other countries.

Secretary Bessent presented an optimistic assessment of the U.S. economic situation.

He said, "While it is uncertain when the economic impact of the Iran war will be fully reflected, the current economy is robust," and added, "There is a possibility that growth this year could exceed 3-3.5%."

Furthermore, he maintained his stance that the Federal Reserve (Fed) should lower interest rates.

Secretary Bessent argued, "The Fed's assessment of inflation has some aspects that are somewhat mistaken," and stated, "As core prices, excluding energy and food, are declining, there is room for a larger interest rate cut."