U.S. Treasury Secretary: "Tariffs to be raised to 15% likely this week"

The United States is expected to implement a plan this week to raise its global tariff rate from the current 10% to 15%.

According to Bloomberg on the 4th (local time), U.S. Treasury Secretary Scott Bessent said in an interview with CNBC that “(the timing of the tariff increase) will probably be sometime this week.” This indicates that U.S. President Donald Trump’s plan to raise the universal tariff rate from the current 10% to 15% could be implemented within the week.

Previously, after the U.S. Supreme Court invalidated the existing tariff policy last month, President Trump newly introduced a 10% universal tariff. Secretary Bessent said, “The current authority to impose tariffs can only be maintained for 150 days,” adding, “During this period, trade authorities will review other legal bases to reintroduce the previous tariff regime.”

He also underscored the administration’s determination to press ahead with the tariffs. Secretary Bessent said, “I believe the tariff rate will return to its previous level within five months,” adding, “The process is slow, but more robust.” Bloomberg reported that “(Bessent’s remarks) suggest an approach that would rely on Section 301 of the Trade Act and Section 232 of the Trade Expansion Act, rather than the existing tariffs based on the International Emergency Economic Powers Act (IEEPA).”