India, Sept. 8 -- US treasury secretary Scott Bessent has said the government may have to refund billions in tariffs if legal challenges to President Donald Trump's "reciprocal" trade duties succeed, calling it "terrible for the treasury."

"We would have to give a refund on about half the tariffs, which would be terrible for the Treasury. If the court says it, we'd have to do it," he told NBC News' Meet the Press.

Bessent added there are "numerous other avenues" to impose tariffs, though these could "diminish President Trump's negotiating position."

National Economic Council Director Kevin Hassett said on CBS News' Face the Nation that other legal options exist, such as "Section 232" investigations previously used for steel and alumini...