Washington: If the Supreme Court overturns U.S. President Donald Trump's extensive global tariffs, his administration plans to quickly replace them, U.S. Trade Representative Jamieson Greer revealed in a recent interview.

According to Yonhap News Agency, Greer shared these insights with The New York Times, indicating that the high court may soon rule on the legality of Trump's use of the 1977 International Emergency Economic Powers Act (IEEPA) to impose country-specific "reciprocal" tariffs on South Korea and other trade partners. Greer emphasized that following any adverse court decision, the Trump administration would promptly reconstitute tariffs to address the issues identified by the president.

Greer also noted that he and other advisers had presented Trump with multiple options to achieve his trade goals at the onset of his second administration. This suggests that the president might consider alternative legal avenues to implement global tariffs if the IEEPA-based tariffs are invalidated by the court.

Business leaders, policymakers, and other stakeholders have been closely monitoring the impending tariff ruling due to its potential impact on global trade and the U.S. fiscal landscape. Currently, the Trump administration has reduced reciprocal tariffs on Korean products to 15 percent from an initial 25 percent as part of a bilateral trade and investment agreement, wherein South Korea committed to investing $350 billion in the United States.

In the event of a court ruling against the tariffs, companies might seek refunds for tariffs previously paid. A federal appeals court had earlier ruled in August that the IEEPA tariffs exceeded presidential authority, upholding a lower court's decision from May. During November's oral arguments, the justices expressed skepticism regarding the tariffs' legality.

President Trump has cautioned that losing the administration's tariff authority would significantly harm the U.S., warning that an adverse Supreme Court decision could lead to substantial financial repercussions, including potential paybacks reaching into the trillions of dollars.

The Supreme Court has scheduled a public session to hear two oral arguments on Tuesday, leading to speculation that a decision on the tariff case might be imminent.