New Delhi, Feb. 24 -- US Treasury Secretary Scott Bessent said that citizens of the country may not see the $175 billion raised from Trump's tariffs under the International Emergency Economic Powers Act (IEEPA) that was recently struck down by the Supreme Court.

Many American households were looking forward to the $2,000 check promised by President Donald Trump and the White House. While there was no solid update to begin with, even as Trump claimed several times about the checks being sent soon, now the hopes of the money actually coming to bank accounts are more bleak than ever.

Several economists and analysts have said that some $175 billion is now locked up in litigation for refunds, and Bessent admitted that the funds are unlikely ...