Trump's Global 15% Tariff Starts This Week, Bessent Says

U.S. Treasury Secretary Scott Besson said President Donald Trump's recently announced 15% global tariff will likely be implemented this week, increasing from the current 10% level. Trump announced the 10% section 122 global tariff after the U.S. Supreme Court struck down his universal reciprocal duties and increased it to 15% shortly afterward. The tariff can remain for 150 days without congressional approval. During that time period, the Trump administration will complete trade-related studies that can allow it to impose more tariffs, Besson said. Besson suggested that the U.S. tariff rates will return in five months to the level before the February 20th Supreme Court ruling. It's my strong belief that the tariff rates will be back to their old rate within five months, Besson said in an interview on CNBC's Squawk Box.