![\"Treasury](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/108273381-17726273741772627371-44348193806-1080pnbcnews.jpg\")
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President Donald Trump<\/a>‘s recently announced 15% global tariff<\/a> will likely be implemented sometime this week, rising from its current rate of 10%, Treasury Secretary Scott Bessent<\/a> said on Wednesday.<\/p>\n Bessent also predicted that U.S. tariff rates would, by August, effectively return to where they stood before the Supreme Court<\/a> recently struck down the often-steeper duties that Trump unilaterally imposed on most of the world’s countries last year.<\/p>\n “It’s my strong belief that the tariff rates will be back to their old rate within five months,” Bessent said in an interview on CNBC’s “Squawk Box<\/a>.”<\/p>\n Trump last year, without authorization by Congress, implemented a broad array of tariffs on imports from most other countries by invoking the International Emergency Economic Powers Act.<\/p>\n The Supreme Court, in a 6-3 ruling on Feb. 20, said Trump did not have the legal authority to circumvent Congress by using IEEPA to impose those duties.<\/p>\n Hours after that ruling, Trump said he had signed an executive order to impose a global 10% tariff<\/a> under a different law. A day later, Trump said he would hike that new tariff rate to 15%<\/a>, “effective immediately.”<\/p>\n But in fact, when the tariff took effect, it only stood at 10%.<\/p>\n During his interview on “Squawk Box,” Bessent was asked about the discrepancy between the 15% level that Trump had promised and the current rate, and if Bessent knew when a change to the higher level would occur.<\/p>\n “That’s likely sometime this week,” Bessent said.<\/p>\n He noted that those replacement tariffs, which are being imposed under Section 122\u00a0of the Trade Act of 1974, can last for only 150 days unless Congress approves an extension.<\/p>\n Read more CNBC politics coverage<\/p>\n During that interval, the Office of the U.S. Trade Representative and the Commerce Department will complete trade-related studies that can allow them to impose more tariffs, Bessent said.<\/p>\n “It’s my strong belief that the tariff rates will be back to their old rate within five months, and those are very fulsome authorities,” Bessent said. <\/p>\n “They have survived more than 4,000 legal challenges,” he said. “They are more slow-moving, but they are more robust.”<\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump‘s recently announced 15% global tariff will likely be implemented sometime this week, rising from its…\n","protected":false},"author":2,"featured_media":518274,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,5833,1053,15557,99,174,5834,2490,164,258831,251569,258832,98724,258833,247552,171,68882,84,16740,54727,13105,576,2418,1055,247551,34395],"class_list":["post-518273","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-breaking-news-economy","tag-breaking-news-markets","tag-breaking-news-politics","tag-business","tag-business-news","tag-donald-j-trump","tag-donald-trump","tag-economy","tag-invesco-db-us-dollar-index-bullish-fund","tag-ishares-msci-emerging-markets-etf","tag-ishares-msci-global-metals-mining-producers-etf","tag-ishares-u-s-home-construction-etf","tag-ishares-u-s-industrials-etf","tag-lp","tag-markets","tag-nike-inc","tag-politics","tag-scott-bessent","tag-spdr-sp-homebuilders-etf","tag-target-corp","tag-trade","tag-u-s-economy","tag-united-states","tag-united-states-oil-fund","tag-walmart-inc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/518273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=518273"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/518273\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/518274"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=518273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=518273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=518273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Watch](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/108273370-17726269721772626963-44348080599-1080pnbcnews.jpg\")
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