{"id":503513,"date":"2026-03-04T16:42:10","date_gmt":"2026-03-04T16:42:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/503513\/"},"modified":"2026-03-04T16:42:10","modified_gmt":"2026-03-04T16:42:10","slug":"scott-bessent-says-15-global-tariff-likely-to-be-imposed-this-week","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/503513\/","title":{"rendered":"Scott Bessent says 15% global tariff \u2018likely\u2019 to be imposed this week"},"content":{"rendered":"

Unlock the White House Watch newsletter for free<\/p>\n

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US Treasury secretary Scott Bessent has said that the global tariff the White House imposed following its Supreme Court defeat will probably be lifted from 10 per cent to 15 per cent this week.<\/p>\n

President Donald Trump announced the tariff rate last month after the Supreme Court ruled that the majority of the duties imposed as part of the administration\u2019s trade war were illegal.<\/p>\n

The administration had threatened a 15 per cent tariff but has so far only imposed a 10 per cent rate, saying that the higher duty would follow without specifying when.<\/p>\n

Asked on Wednesday about when the 15 per cent tariff would be imposed, Bessent<\/a> told CNBC: \u201cThat\u2019s likely some time this week.\u201d<\/p>\n

The White House turned to a new series of laws to resurrect Trump\u2019s tariff regime and uphold a series of agreements struck with its major trading partners.<\/p>\n

It invoked a seldom-used piece of legislation, Section 122 of the Trade Act of 1974, to immediately impose fresh levies on imports to the US for 150 days.<\/p>\n

The US also retains tariffs on industries, including steel, aluminium and autos, using different legal authority. The White House is expected to launch further probes that could lead to more levies. <\/p>\n

\u201cIt\u2019s my strong belief that the tariff rates will be back to their old rates within five months,\u201d Bessent told CNBC. The Treasury secretary added that other measures available to Trump to impose tariffs were \u201cvery fulsome\u201d and \u201crobust\u201d, albeit \u201cslower moving\u201d. <\/p>\n

Unlike the emergency powers that Trump relied on to impose his \u201cliberation day\u201d tariffs in April last year, the other laws that could be used to impose duties typically require US government agencies to conduct investigations.<\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington,…\n","protected":false},"author":2,"featured_media":503514,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-503513","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/503513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=503513"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/503513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/503514"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=503513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=503513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=503513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}