US Treasury Secretary Scott Bessent stated on Tuesday that tariffs imposed by President Donald Trump could be reinstated as early as July at the levels in effect before the Supreme Court largely invalidated them. Bessent noted that because the tariff authority under Section 301 has already been debated in court, business leaders can begin planning and making capital investment decisions. The initiative comes as Trump seeks to rebuild his tariff barrier through other legal grounds after the Supreme Court ruled the use of emergency powers to impose many of those tariffs unconstitutional. Following the cancellation of several global tariffs, the former president instituted a temporary 10% surcharge on various imports, which expires on July 24. Regarding tariffs, the EU says it believes the US will respect the trade agreement signed in July 2025.