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US Treasury Secretary Bessent Says 2026 Tariffs Revenue Won’t Drop
WASHINGTON D.C. – US Treasury Secretary Scott Bessent says revenue from tariffs should stay about the same in 2026, even after a major Supreme Court ruling knocked out a central part of Trump’s tariffs built on emergency powers.
Instead of relying on IEEPA tariffs, the White House says it will route new duties through other laws, including Section 122 authority, Section 232 tariffs, and Section 301 tariffs. At the same time, the decision raises fresh questions about tariff refunds and the direction of US trade policy in 2026.
On Friday, the Supreme Court struck down key parts of President Donald Trump’s emergency-based tariff program. Bessent said that tariff collections next year will be “virtually unchanged.” He argued the ruling blocks one legal tool, not the policy goal, and said the administration already has other ways to keep duties in place.
The Court ruled 6-3 on February 20, 2026. Chief Justice John G. Roberts Jr. wrote the majority opinion. The decision said the International Emergency Economic Powers Act (IEEPA) does not give the president power to impose broad, revenue-raising tariffs during a national emergency.
Still, in remarks at the Economic Club of Dallas, Bessent played down the practical hit. “The Court did not rule against President Trump’s tariffs,” he said in prepared comments. “Six Justices simply ruled that IEEPA authorities cannot be used to raise even one dollar of revenue.”
From the administration’s view, the fix is straightforward. It plans to move the tariff program onto other trade statutes that have long been used for duties.
What the Supreme Court Ruled On
The case focused on tariffs launched in 2025 under IEEPA, including:
- 25% duties on many imports from Canada and Mexico, tied to drug trafficking concerns
- 10% or higher tariffs on Chinese goods
- At least a 10% baseline tariff across imports from dozens of countries, aimed at trade deficits
The Court said IEEPA, passed in 1977, was built for sanctions and emergency actions tied to foreign threats, not for broad tariffs designed to raise revenue. The justices sent the case back to the Court of International Trade to sort out next steps, including how the ruling should be applied and what remedies may follow.
Supporters of the decision called it a firm limit on executive power. The White House, on the other hand, described it as a narrow legal setback.
Bessent Says 2026 Tariffs Revenue Won’t Drop
Bessent said Treasury projections show little change in total tariff revenue next year. To fill the gap left by IEEPA tariffs, the administration plans to use other authorities, including:
- Section 122 of the Trade Act of 1974, which allows temporary tariffs up to 15% for 150 days in certain trade-imbalance situations
- Expanded use of Section 232 tariffs, based on national security findings
- Broader use of Section 301 tariffs, tied to unfair trade practices
Bessent described this approach as less direct and more complicated than the emergency route. Even so, he said it should keep collections steady.
“Treasury’s estimates show that the use of Section 122 authority, combined with potentially enhanced Section 232 and Section 301 tariffs will result in virtually unchanged tariff revenue in 2026,” Bessent said.
He also argued that earlier tariffs create a base level of collections, and that new actions will cover any shortfall from the ruling.
President Trump echoed that message soon after the decision. He announced a new 10% global tariff and criticized the justices who dissented.
Tariff Refunds Could Reach Into the Billions
Even if future revenue holds, past tariff collections may be at risk. Economists at the Penn-Wharton Budget Model estimated more than $175 billion in tariff payments could be eligible for refunds. Bessent put the number closer to $130 billion.
He criticized large-scale refunds as “ultimate corporate welfare.” In his view, many importers already passed higher costs on to consumers. If refunds go back to importers, he said, buyers may not see that money returned.
Bessent also warned that the timeline could be long. He said the process will likely involve lawsuits and could take “weeks, months, or more, maybe even years.”
Treasury, however, says it can manage the cash impact. Officials expect cash balances in the $850 billion to $900 billion range in the coming quarters, which they say would help cover any obligations without immediate strain.
What This Means for US Trade Policy in 2026
The decision and the administration’s response,puputeveral pressures back into focus for US trade policy 2026.
- Business impact: Some importers may get short-term relief from the invalidated IEEPA tariffs. Still, new tariffs under other laws could keep costs high.
- Global trade tensions: Trading partners may challenge replacement tariffs, which could escalate disputes.
- Congress and tariff power: The ruling reinforces that Congress controls broad tariff authority. As a result, lawmakers may face more calls to tighten or clarify trade statutes.
- Political fallout: Democrats said the workaround sidesteps the Court’s message. Supporters said the administration is sticking with its trade plan.
Bessent also pushed back on the idea that the ruling weakens US negotiating power. He argued the government still has tougher options available, including broader restrictions such as embargoes, if it chooses to act.
What to Watch Next
As the White House shifts away from IEEPA tariffs, several items will shape the next phase:
- How fast new tariffs roll out under Sections 122, 232, and 301
- How markets react to renewed trade pressure
- Whether new lawsuits target the administration’s next legal strategy
- How the courts handle refund claims, if refunds move forward
For now, Bessent’s message stays consistent. Despite the Supreme Court setback, he says tariff revenue will remain largely intact in 2026, and the administration will keep pushing its “America First” trade approach. The next few months will show whether the replacement plan holds up or sparks another round of legal and economic fights.
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Trump and Iran Agree to Two-Week Pause After Pakistan Brokers Deal
WASHINGTON, D.C. – US President Trump and Iran struck a two-week ceasefire late Tuesday. They stepped back from major destruction right before a US deadline.
President Donald Trump shared the news after Pakistan stepped in with talks. He paused US attacks because Iran promised to fully reopen the Strait of Hormuz.
This deal happened under two hours before Trump’s 8 p.m. Eastern Time cutoff. He had warned of bombing Iran’s power plants, bridges, and vital sites. Now tensions ease for a bit in a fight that killed thousands and messed up world oil since late February 2026.
A US-Israeli operation against Iran kicked off in late February. Nuclear talks failed first. Then Iran shut the Strait of Hormuz after strikes hit. Oil prices jumped because that route carries 20% of global oil. Shipping almost stopped.
Trump gave Iran clear warnings to reopen the Strait for safe traffic. His words got tougher lately. He said no deal by Tuesday night meant “complete demolition” of power plants and bridges. Without action, he added, “a whole civilization will die tonight.”
Iran turned down short breaks. They wanted a full fix, like ending sanctions and no more strikes. Tehran sent a 10-point plan via go-betweens. Trump called it a “significant step,” but not enough alone.
Markets shook as the deadline neared. Energy pros warned of shortages and high prices hitting Europe, Asia, and beyond.
Pakistan Steps Up for Quick Talks
Prime Minister Shehbaz Sharif of Pakistan made the deal happen. He asked publicly for a two-week delay so talks could work. Sharif talked straight with US leaders, including Vice President JD Vance.
Pakistan borders Iran and has old ties there. So Islamabad stayed neutral and hosted back-channel chats. They passed ideas between Washington and Tehran. People close to the talks said Sharif worked hard with many calls. His plan mixed urgent aid with big security fixes.
Trump posted on Truth Social: “Subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, I agree to suspend the bombing and attack of Iran for a period of two weeks.”
This break lets teams tackle main problems like Iran’s nuclear work, proxy fights, and sanctions.
Main Points of the Deal
The pause lasts two weeks from Tuesday’s announcement. The US holds off strikes on power plants, bridges, and other key spots. Iran must reopen the Strait of Hormuz right away for safe global shipping. Pakistan keeps mediating. Turkey and Egypt might join in. Next, they build on Iran’s 10-point plan for a bigger agreement.
Both sides call it shaky. US leaders say any Iranian slip restarts the bombs. Iran pushes for real peace, not just a quick stop.
Experts see the window as a big chance. “This isn’t peace, but it stops a wider war pulling in others,” one Middle East pro said. He stayed unnamed because talks stay sensitive.
Oil prices dipped in late trading. Traders hope open lanes will steady supplies. Still, no one has checked full compliance yet.
Aid groups cheered the halt. More strikes meant blackouts for millions, bad water, and worse times for regular Iranians.
Big issues linger. First, check if the Strait stays open without Iranian blocks or proxy trouble. The US demands no nuclear weapons from Iran. Tehran says its program stays peaceful. Israel keeps hitting, and Iran backs Hezbollah, so layers add up. Hardliners in both capitals fight to give.
Trump repeats his aim: “Iran cannot have a nuclear weapon.” He sees the push as key for US safety and friends. He offers better ties if Iran shifts.
Iran blames the U.S. and Israel for the attacks. They want sanctions gone as an economic war.
World Responds Fast
China and Russia back talks but slam US threats as risky. They blocked UN moves on the strait before. Europe likes the pause and wants a quick, full calm for energy. Gulf countries quietly want the strait open for their oil sales. Pakistan’s Sharif called it a “victory for diplomacy” and offered more talks in Islamabad.
The UN boss urged both to use the time well and skip bad moves.
The two countries teetered before. Strains started with Iran’s 1979 revolution. Sanctions, proxy wars, and Trump’s pullout from the 2015 nuclear deal marked the years.
This round grew from max pressure, Israeli hits, and Iran’sStraitt shutdown. What began small turned into fights over power and oil flows.
Pakistan’s role shows new shifts. Muslim nations step up to stop bigger blowups.
Looking Forward: What the Next Two Weeks Might Bring
In the coming days, diplomats will likely focus on concrete steps:
- Monitoring and verifying the reopening of the Strait of Hormuz.
- Exchanging detailed proposals based on Iran’s 10-point plan.
- Addressing humanitarian corridors for food and medicine.
- Building confidence through small, verifiable gestures.
Success could lead to broader talks involving more parties. Failure, however, risks returning to the path of destruction Trump outlined so starkly.
For now, the world breathes a collective sigh of relief. A two-week ceasefire may seem short, but in the context of rapid escalation, it represents a critical off-ramp.
As one veteran diplomat put it: “Diplomacy often works best when the alternative is too terrible to contemplate. Tonight, both sides looked over the edge—and chose to step back, at least for now.”
The coming days will test whether this pause can translate into something more enduring. For millions affected by the conflict, that hope cannot come soon enough.
Sources include: White House statements, Pakistani updates, big news reports, and policy backgrounds. All from public info as of April 8, 2026.
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Gen Randy George Ousted as Army Chief Amid Wartime Shakeup
PENTAGON — In a move that has sent shockwaves through the Department of Defense, Gen Randy George, the 41st Chief of Staff of the Army, has been forced to step down effective immediately.
The order came directly from Defense Secretary Pete Hegseth, marking the most high-profile departure in a sweeping administrative purge of the Pentagon’s top brass.
General George’s sudden retirement cuts short a four-year term that was originally set to run until 2027. His exit follows a pattern of rapid leadership changes under Secretary Hegseth, who has sought to reshape the military’s culture and leadership since taking office in early 2025.
In a final, poignant email sent to his staff and senior military leaders on Saturday, General George did not dwell on the politics of his removal. Instead, he focused on the soldiers he led for over three decades.
“It has been the greatest privilege to serve beside you and lead Soldiers in support of our country,” George wrote in the message, which was later confirmed as authentic by Pentagon officials. He urged his colleagues to remain “laser-focused on the mission” and to continue “relentlessly cutting through bureaucracy.”
However, it was his closing remarks that many observers viewed as a pointed farewell. George stated:
“Our soldiers are truly the best in the world—they deserve tough training and courageous leaders of character. I have no doubt you will all continue to lead with courage, character, and grit.”
The emphasis on “leaders of character” is being interpreted by some within the Pentagon as a subtle critique of the current political climate and the unconventional nature of his dismissal.
Why Was Gen Randy George Forced Out?
While the Pentagon’s official statement thanked General George for his “decades of service,” it offered no specific reason for his immediate ouster. However, sources close to the decision cite several key factors:
- Alignment with the New Vision: Secretary Hegseth has been vocal about wanting a leadership team that fully implements the Trump administration’s “warrior culture” and strategic shifts. Sources suggest there were concerns that George, a Biden-era appointee, was not moving fast enough to enact these changes.
- The “Biden Connection”: Before becoming Chief of Staff, George served as the senior military assistant to former Defense Secretary Lloyd Austin. This close association with the previous administration reportedly made him a target for replacement as Hegseth seeks to “remake” the Joint Chiefs of Staff.
- Cultural Clashes: The dismissal coincided with the removal of two other high-ranking officers: Gen. David Hodne and Maj. Gen. William Green Jr. (the Army’s Chief of Chaplains). These moves highlight a broader effort by Hegseth to overhaul military training and the role of chaplains within the force.
- The “Kid Rock” Incident: Tensions between the Army leadership and the Secretary’s office were recently strained when Hegseth personally intervened to reverse the suspension of helicopter pilots who flew a low-altitude salute over musician Kid Rock’s home. While officials say this wasn’t the “sole reason,” it highlighted the growing rift between traditional Army discipline and the Secretary’s command style.
Wartime Uncertainty
The timing of the shakeup is particularly notable. The United States is currently engaged in an intensifying conflict with Iran, with thousands of soldiers recently deployed to the Middle East. Dismissing a service chief with extensive combat experience in Iraq and Afghanistan during active operations is rare in American military history.
“Disruptions of this nature are unusual during wartime,” noted one senior defense official. “General George was a career infantry officer who understood the complexities of the Middle East. Losing that institutional knowledge in the middle of a conflict is a significant gamble.”
What’s Next for the Army?
General Christopher LaNeve, who previously served as Hegseth’s military aide, has been named as the acting Army Chief of Staff. LaNeve is expected to provide the “leadership change” the Secretary has been seeking.
As the Pentagon transitions, the focus remains on the soldiers in the field. General George’s departure marks the end of an era for the “old guard” of the Joint Chiefs. Of the original leaders in place when Hegseth took over, only the Commandant of the Marine Corps and the Chief of Space Operations remain.
Key Takeaways
- The Ouster: Gen. Randy George was asked to retire immediately by Pete Hegseth.
- The Reason: A desire for “leadership change” and a team aligned with the administration’s new vision.
- The Timing: Occurred during heightened tensions and military operations involving Iran.
- The Message: George’s final words stressed the need for “courageous leaders of character.”
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Russia Evacuates Workers From Iranian Nuclear Power Plant After Trump 48-Hour Ultimatum
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Russia Evacuates Workers From Iranian Nuclear Power Plant After Trump 48-Hour Ultimatum
BUSHEHR, IRAN – The geopolitical landscape in the Middle East reached a fever pitch this week as Russia began a mass evacuation of its nuclear technicians from the Bushehr Nuclear Power Plant.
This move follows a direct 48-hour “ultimatum” from U.S. President Donald Trump, who warned the Islamic Revolutionary Guard Corps (IRGC) to meet American demands or face devastating air strikes.
The evacuation of nearly 200 Russian specialists marks a significant shift in the regional conflict, signaling that Moscow—traditionally a key ally of Tehran—may be preparing for a major escalation.
On Saturday, the Russian state nuclear corporation, Rosatom, confirmed the departure of 198 employees from the Bushehr facility. The plant, located on Iran’s southern coast, is a critical piece of the country’s energy infrastructure and was built with extensive Russian assistance.
Recent reports indicate that the evacuation was not just a precaution but a response to immediate danger. A projectile fragment recently struck near the plant, killing a security guard and causing minor structural damage.
Key details of the evacuation include:
- Safe Passage: Workers are being transported via bus toward the Armenian border.
- Coordination: Reports suggest Russian officials may have coordinated the exit with the Israel Defense Forces (IDF) to ensure the safety of the convoy.
- The “Worst-Case” Scenario: Rosatom Director General Alexey Likhachev stated that the situation near the plant is unfolding in a way that suggests high-intensity conflict is imminent.
Trump’s 48-Hour Warning: “Hell Will Reign Down.”
The exodus of Russian staff coincided with a blunt message from the White House. President Trump issued a 48-hour deadline for Iran to reopen the Strait of Hormuz—a vital global shipping lane—and reach a new security deal.
In a social media post that sent shockwaves through global markets, the President warned that if the deadline passes without compliance, “all hell will reign down” on the IRGC and Iranian infrastructure.
Potential Targets for U.S.-Israeli Strikes
Military analysts suggest that if the deadline expires, the U.S. and Israel may target several strategic locations:
- Power Grids and Bridges: Aims to disrupt internal logistics and the Iranian economy.
- IRGC Command Centers: Designed to degrade the military’s ability to respond.
- Oil and Gas Facilities: Intended to cut off the regime’s primary source of revenue.
The Risk of Nuclear Contamination
The most concerning aspect of the tension at Bushehr is the risk of radioactive fallout. Iranian Foreign Minister Abbas Araghchi has warned that any direct hit on the nuclear facility would not just affect Iran. He stated that contamination could drift across the Persian Gulf, threatening the capitals of neighboring countries like Kuwait, Qatar, and Bahrain.
While the plant is currently operational, the loss of Russian technical expertise makes it harder for Iran to manage the facility safely under the stress of a potential bombardment.
Russia’s Strategic Retreat
Russia’s decision to pull its workers highlights the limits of its support for Tehran. While Moscow has benefited from Iranian military aid in the past, it appears unwilling to risk the lives of its citizens or engage in a direct military confrontation with the U.S.-Israeli coalition.
Observers note that by evacuating now, Russia is “hedging its bets”—preserving its technical assets while maintaining enough distance to avoid being drawn into a second high-intensity war alongside its domestic commitments.
As the 48-hour clock ticks down, the international community is watching for any signs of a diplomatic breakthrough. President Trump has signaled there is a “good chance” for a deal, but Iranian commanders have remained defiant, promising a “crushing” response to any strikes.
For now, the buses carrying Russian engineers toward Armenia are a somber reminder that the window for a peaceful resolution is closing fast.
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