Trump Imposes New 15% Global Tariff, Treasury Secretary Says

Bessent expects tariff rates to return to previous levels within 5 months

Published on Mar. 4, 2026

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Treasury Secretary Scott Bessent announced on CNBC's 'Squawk Box' that President Donald Trump's newly announced 15% global tariff will take effect this week, as the administration moves to restore duties after a Supreme Court ruling struck down a key part of the president's trade agenda. Bessent said he expects the tariff rates to return to their old levels within 5 months.

Why it matters

This move by the Trump administration comes after the Supreme Court invalidated the president's previous 'reciprocal' tariffs, forcing the White House to pivot to a different legal authority to maintain the levies. The new global tariff is seen as an attempt by the administration to work around the court's ruling and continue its protectionist trade policies.

The details

Hours after the Supreme Court ruling, Trump signed an executive order imposing a 10% global tariff under a separate statute. The following day, the president said he would raise that new tariff rate to 15%, stating the increase would be 'effective immediately'.

  • The new 15% global tariff will take effect this week.
  • Bessent expects the tariff rates to return to their old levels within 5 months.

The players

Donald Trump

The President of the United States who signed an executive order imposing a new 15% global tariff.

Scott Bessent

The Treasury Secretary who announced the new 15% global tariff on CNBC's 'Squawk Box'.

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What they’re saying

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

— Scott Bessent, Treasury Secretary (CNBC)

What’s next

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The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.