Bessent says new global tariff will likely increase to 15 pct from 10 pct 'sometime this week'

▲ This photo, released by Reuters, shows U.S. Secretary of the Treasury Scott Bessent arriving for U.S. President Donald Trump's State of the Union address to a joint session of Congress at the U.S. Capitol in Washington on Feb. 24, 2026. (Yonhap)

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Bessent says new global tariff will likely increase to 15 pct from 10 pct 'sometime this week'

By Song Sang-ho

WASHINGTON, March 4 (Yonhap) -- U.S. Treasury Secretary Scott Bessent said Wednesday that a new U.S. global tariff will likely rise to 15 percent from 10 percent "sometime this week," as President Donald Trump's administration is working to replace its emergency tariffs that the Supreme Court recently struck down.

Bessent made the remarks in a CNBC interview, as Trump has said his administration will raise the temporary tariff amid efforts to maintain his trade policy following last month's court ruling against his use of the International Emergency Economic Powers Act to impose country-specific tariffs and other duties.

"That's likely sometime this week. And again, that's under something called Section 122, and that's 150-day authority," Bessent said, referring to the provision of the 1974 Trade Act that the Trump administration invoked to roll out the temporary tariff.

The secretary reiterated that during the 150 days, there will be trade investigations under Section 301 of the 1974 Trade Act as well as tariffs under Section 232 of the 1962 Trade Expansion Act.

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

The Trump administration is using Section 301 investigations to look into "unfair trade practices" on a country-by-country basis. The investigations might lead to tariffs or other trade remedies.

Section 232 is a provision that gives the president the authority to adjust imports when he determines they threaten to impair national security. The Trump administration has used it to impose sector-specific duties, including those on autos, steel and aluminum.

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