Bessent says global 15% tariff starts this week, move back to prior rates within 5 months

Treasury Secretary Scott Bessent on Wednesday said President Donald Trump’s recently announced 15% global tariff will be implemented sometime this week.

Bessent, in an interview on CNBC’s “Squawk Box,” also predicted that U.S. tariff rates would soon effectively return to where they stood before the Supreme Court struck down Trump’s most expansive duties.

“It’s my strong belief that the tariff rates will be back to their old rate within five months,” Bessent said.

Hours after the court invalidated Trump’s so-called reciprocal tariffs, the president said he had signed an executive order to impose a global 10% duty under a different law.

A day later, Trump said he would hike that new tariff rate to 15%, “effective immediately.”

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