Bessent points to China’s rare earths restrictions to justify Trump tariffs

Lower courts have already ruled that Trump can’t use the International Emergency Economic Powers Act (IEEPA) to impose his so-called reciprocal tariffs and duties tied to the fentanyl trade. But in an interview on Fox News Sunday, Bessent said he’s optimistic that the Supreme Court will decide in the administration’s favor and pointed to China’s strict rare earths export curbs that threatened a wide range of industries and critical technologies. “The president was able to push back using his IEEPA powers,” Bessent said. “If that’s not use of an emergency power at an emergency time, I don’t know what it…