US Treasury chief says 15% global tariff likely implemented this week

Washington: US Treasury Secretary Scott Bessent said Wednesday that Donald Trump's 15-percent global tariff is likely to be rolled out this week, as the president moves to rebuild his trade agenda after a major legal setback.

The Supreme Court last month struck down Trump's country-specific tariffs, which he imposed last year on allies and competitors alike, delivering a stinging rebuke of his signature economic policy.

Since then, the US leader has tapped a different law to impose a new 10-percent duty, and vowed to raise this level to 15 percent.


Asked when the hike will be implemented, Bessent told CNBC: "That's likely sometime this week."

He added that this will be done under Section 122 of the Trade Act of 1974 -- the same basis for Trump's new 10-percent tariff -- which only allows for a duty lasting 150 days unless Congress extends it.

During this five-month window, the Trump administration will move to wrap up investigations linked to concerns over national security and unfair trade, Bessent said.

These probes, in turn, could bring about new waves of tariffs.

"It's my strong belief that the tariff rates will be back to their old rate within five months," Bessent said, referring to levels seen before the legal blow.

"And those are very fulsome authorities," he added, referring to the laws justifying these investigations.

"They have survived more than 4,000 legal challenges. They are more slow moving, but they are more robust," Bessent said.

The high court's ruling last month did not affect Trump's sector-specific tariffs, which he imposed on goods like steel and automobiles after investigation periods.

It also does not impact Trump's earlier tariffs on countries like China, which were similarly justified after months-long probes.

Already, Washington has ongoing investigations into a host of sectors like imported pharmaceuticals and drones, and into China over its compliance with an earlier trade pact.

Trump's tariffs ruled illegal were imposed using emergency economic powers after he returned to the White House last year.

They generated more than $130 billion for the US government as of late 2025, and the court ruling has opened the door to a complicated battle for refunds.

While the Trump administration has pushed for the refunds process to be delayed for months, a US federal appeals court on Monday rejected its argument, allowing the fight to proceed in a lower court.