Trump Administration to Implement 15% Global Tariff This Week, Treasury Secretary Says

Key takeawaysThe U.S. will begin implementing a 15% global tariff this week, according to the Treasury Secretary.Officials expect tariff rates to return to previous levels within about five months.The move follows a Supreme Court ruling that struck down earlier reciprocal tariffs.U.S. to Launch 15% Global Tariff PolicyU.S. Treasury Secretary Scott Bessent said the United States will begin implementing a 15% global tariff on imports later this week, following a policy announcement by Donald Trump.Speaking in an interview on CNBC’s Squawk Box, Bessent said the administration expects the tariff policy to stabilize within several months.“It’s my strong belief that the tariff rates will be back to their old rate within five months,” he said.Policy Shift After Supreme Court DecisionThe tariff move follows a decision by the Supreme Court of the United States that struck down Trump’s earlier “reciprocal tariff” policy, which had imposed broader duties on multiple trading partners.Shortly after the ruling, Trump signed an executive order introducing a new 10% global tariff under a different legal framework.The administration then moved to increase that rate to 15%, with the policy expected to take effect immediately.Tariff Rates Expected to Normalize Within MonthsAccording to Bessent, the administration expects tariff levels to gradually return to their previous structure within roughly five months.The temporary adjustment could act as a bridge while policymakers reassess trade policy following the court ruling.The development is likely to attract attention from global markets, as tariff changes can influence trade flows, inflation expectations, and supply chains worldwide.