Treasury Secretary Says 15% Global Tariff Could Begin 'Sometime This Week'

Bessent says tariff rates expected to return to 'old rate' within 5 months

Published on Mar. 4, 2026

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Treasury Secretary Scott Bessent told CNBC that President Trump's global tariff increase to 15% would likely be implemented "sometime this week." The new 15% tariff rate would replace the 10% tariff currently in place, according to Bessent. The White House imposed the 10% global tariff last month using a different authority than the one the Supreme Court invalidated. Bessent said he expects the tariff rates to "be back to their old rate within five months" as the administration explores other laws to implement levies.

Why it matters

The Supreme Court recently struck down many of President Trump's tariffs as illegal, leading to uncertainty around the administration's trade policy. Bessent's comments suggest the White House is moving quickly to raise tariffs again using alternative legal authorities, which could further strain trade relations and impact businesses and consumers.

The details

Last month, the White House imposed a 10% global tariff using Section 122 of the Trade Act of 1974, a different authority than the one the Supreme Court invalidated. The new Section 122 tariffs are limited to 150 days, during which the US government is expected to explore ways to implement its tariffs similar to the illegal IEEPA ones that were struck down.

  • The White House imposed a 10% global tariff last month using Section 122 of the Trade Act of 1974.
  • The new 15% tariff rate would replace the 10% tariff currently in place, according to Bessent, and could be implemented "sometime this week."

The players

Scott Bessent

The current United States Secretary of the Treasury, appointed by President Trump.

Donald Trump

The 45th and current President of the United States.

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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

The administration is expected to use the 150-day window of the Section 122 tariffs to implement new measures under other legislative authorities, such as the Trade Act's Sections 301 and 232.

The takeaway

The Trump administration appears determined to maintain high tariff rates despite the Supreme Court's ruling against the president's use of emergency powers to impose sweeping global tariffs. This ongoing trade uncertainty could continue to impact businesses and consumers as the administration explores alternative legal avenues to keep tariffs in place.