Scott Bessent says Trump’s new 15% global tariff – Business News
Treasury Secretary Scott Bessent stated Wednesday that President Donald Trump’s newly introduced 15% global tariff will take impact this week, because the administration strikes to revive duties after a Supreme Court ruling struck down a key half of the president’s commerce agenda.
Speaking on CNBC’s morning show “Squawk Box,” Bessent stated the administration expects tariff charges to return to earlier ranges within months.
Ships on the Port of Los Angeles on Feb. 20, 2026. Getty Images
President Trump holds up a graph during his “Liberation Day” occasion in April 2025. AP
“It’s my strong belief that the tariff rates will be back to their old rate within five months,” Bessent instructed CNBC on Wednesday morning.
The feedback come after the Supreme Court invalidated Trump’s sweeping “reciprocal” tariffs, forcing the White House to pivot to a completely different legal authority to keep up the levies.
Secretary of Treasury Scott Bessent stated Trump’s global tariff will begin this week. AP
Hours after the ruling, Trump signed an govt order imposing a 10% global tariff below a separate statute.
The following day, the president stated he would raise that new tariff charge to fifteen%, saying the increase could be “effective immediately.”
