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The Treasury Department may issue tariff rebates if the Supreme Court upholds a lower court ruling against President Trump's reciprocal tariffs. Treasury Secretary Scott Bessent stated this would be costly, while National Economic Council Director Kevin Hassett suggested alternative legal avenues. A federal appeals court deemed the tariffs an overreach of presidential power. The Trump administration appealed, arguing tariffs are vital. However, recent economic data shows a slowing job market, particularly in goods-producing sectors, potentially linked to tariff impacts. Despite the administration's claims that businesses absorb costs, major retailers warn of price increases for consumers.

Prepared by Lauren Mitchell and reviewed by editorial team.