Bessent says global 15% tariff likely to be implemented this week
By Michele Maatouk
Date: Wednesday 04 Mar 2026
(Sharecast News) - US Treasury Secretary Scott Bessent said on Wednesday that President Donald Trump's plan to increase the global tariff to 15% from 10% will likely be implemented this week.
Asked on CNBC's 'Squawk Box' when the increase would be implemented, Bessent said: "That's likely sometime this week."
Bessent added that he believes the tariff will go back to the old rate "within five months".
Trump announced last month that he was planning to increase worldwide tariffs to a blanket 15%, after the Supreme Court struck down his reciprocal tariff regime.
Trump responded by calling the decision "ridiculous, poorly written and extraordinarily anti-American", and immediately announced a global 10% tariff on all countries. However, that was switfly lifted to 15%, with Trump warning of more levies to come.
Writing on Truth Social, Trump said at the time: "I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been 'ripping' the US off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level.
"During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs."
On 20 February, the Supreme Court ruled by six to three that Trump had wrongfully invoked the International Emergency Economic Powers Act to implement tariffs without seeking approval from Congress.
The new tariffs had been invoked under Section 133 of the 1974 Trade Act, which allows the US president to impose temporary levies for 150 days. Extensions require approval from Congress, however.
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