U.S. Treasury Secretary Bassett revealed on Monday that he plans to draft a legal brief to defend President Trump's administration's tariff policy, preparing to appeal to the U.S. Supreme Court. Bassett stated that the U.S. trade deficit is growing increasingly large, believing it is approaching a critical point that could lead to financial instability and an unsustainable trade balance. The President is exercising his emergency powers to curb this madness. The federal appeals court ruled last Friday that Trump exceeded his powers under the International Emergency Economic Powers Act (IEEPA) by imposing tariffs on foreign countries. Trump urged the appeals court to block the enforcement of the ruling from last Friday's second tariff loss, as the loss would affect ongoing negotiations with trade adversaries. Bassett predicted that the court would ultimately rule in favor of the government. The deadline for filing an appeal is October 14.