Bessent: Trump’s 15% Global Tariff Likely to Take Effect This Week

by Emmitt Barry, Worthy News Washington D.C. Bureau Chief

(Worthy News) – Treasury Secretary Scott Bessent said Wednesday that President Donald Trump’s newly announced 15% global import tariff is expected to take effect sometime this week as the administration moves to rebuild its tariff framework after a recent Supreme Court ruling struck down part of the president’s trade agenda.

Speaking on CNBC’s Squawk Box, Bessent said the White House is using Section 122 of the Trade Act of 1974 to temporarily impose the tariffs after the court invalidated Trump’s earlier reciprocal tariff program enacted under national emergency powers.

Trump initially set the temporary tariff rate at 10%, but announced in late February that he would raise it to 15%, saying the increase would take effect quickly while the administration works on restoring broader trade measures.

“That’s likely sometime this week,” Bessent said regarding the higher tariff rate.

Section 122 allows the president to impose tariffs for up to 150 days without congressional approval, giving the administration time to rebuild its broader tariff program using other authorities that have historically survived legal challenges.

Bessent said the U.S. Trade Representative’s office is reviewing potential tariffs under Section 301, which targets unfair trade practices, while the Commerce Department is examining tariffs under Section 232, which are based on national security concerns.

He said those efforts are expected to restore tariff levels to their previous levels within several months.

“It’s my strong belief that the tariff rates will be back to their old rate within five months,” Bessent said.

The administration argues the tariffs are part of a broader strategy to strengthen American industry, reduce trade imbalances, and rebuild domestic manufacturing capacity.

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