U.S. Expected to Raise Tariff to 15% This Week, Treasury Secretary Says

U.S. Treasury Secretary Scott Bessent said on Wednesday (March 4) that an increase in President Donald Trump’s new temporary global import tariff—from 10% to 15%—will likely be implemented later this week.

Trump announced the new tariff on February 21, following the Supreme Court’s decision the day before to strike down his previous global tariffs issued under a national-emergencies law.

After the Supreme Court’s February 20 ruling, Trump imposed a 10% tariff for 150 days that same day using Section 122 of the Trade Act of 1974. On February 21, Republicans indicated the rate would go up to 15%. However, the executive order published on February 24 set the tariff at 10%.

“This should happen sometime this week,” Bessent told CNBC regarding Trump’s 15% order.

He said the effort to rebuild Trump’s tariff program under authorities strong enough to withstand legal challenges will bring U.S. tariff levels back to their previous levels within five months.

“They are slower, but they are more robust,” Bessent said, referring to other tariff authorities aimed at protecting national security and addressing unfair trade practices.

Source: Folha de S. Paulo

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