US Treasury Secretary: 301 Investigation to be Launched, Trump Tariffs Could Return to Original Levels as Early as July

(Central News Agency, Washington, 14th, comprehensive foreign report) US Treasury Secretary Scott Bessent said today that many tariffs previously imposed by President Trump, which were ruled unconstitutional by the US Federal Supreme Court, are expected to return to their original tariff rates as early as July.

Bloomberg reported that Bessent said today at an event hosted by the Wall Street Journal in Washington: "Although our tariff policy hit a snag in the Supreme Court, we will launch or enforce Section 301 investigations, so the tariff policy is expected to return to its previous level by early July."

Bessent stated that since the authorization of Section 301 has been validated by the courts, business owners can plan for capital expenditures and make relevant decisions.

After the US Federal Supreme Court ruled at the end of February that US President Donald Trump had no right to impose global tariffs under the "International Emergency Economic Powers Act" (IEEPA), Trump is trying to use different legal authorizations to rebuild tariff barriers.

Bessent said that although it is difficult to judge when the impact of the Middle East war will "spill over" into the US economy, the US economy remains strong, and he believes that "this year's economic growth rate is still expected to exceed 3% to 3.5%."

He added that excluding volatile energy and food prices, core inflation continues to fall, which is a positive signal.

Bessent said: "I think the US Federal Reserve (Fed) made a mistake in judging inflation, and core inflation is falling. I understand they want to wait for clearer data, but that means interest rates should have more room for reduction."

Although the March report showed a slowdown in core inflation, the overall Consumer Price Index (CPI) after accounting for oil prices still showed a significant increase. (Compiled by Zhang Mingxuan) 1150415

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