PiCK
White House: No change in President Trump’s 15% tariff plan…timing still undecided
Summary
- A White House official said there is no change in position on President Trump’s plan to raise tariffs to 15%.
- The timing of the increase to 15% from 10% has not yet been clarified.
- The Trump administration said it is working to change the temporary 10% tariff rate posted to CBP to 15%.
A senior White House official said there has been no change to President Trump’s plan to raise tariffs to 15%.
According to a post on X (formerly Twitter) by overseas economy breaking-news channel Walter Bloomberg on the 24th, a White House official said there is “no change in position” on President Trump’s plan to increase the tariff rate to 15%. The official added, however, that the exact timing of the increase from 10% to 15% remains unclear.
The official also said the Trump administration is currently working to change the temporary 10% tariff rate, as posted to U.S. Customs and Border Protection (CBP), to 15%.
Previously, President Trump said he would use Section 122 of the Trade Expansion Act as the legal basis to phase in adjustments to the global tariff rate.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
