US Treasury Secretary Scott Bessent announced on CNBC that President Donald Trump will likely increase the temporary global import tariff to 15% this week. This move raises the initial 10% rate established in late February under Section 122 of the Trade Act of 1974.

The 150-day measure replaces previous tariffs struck down by the Supreme Court. During this period, the US Trade Representative (USTR) and Department of Commerce (DOC) will conduct Section 301 and Section 232 studies to rebuild the tariff program under authorities that previously survived legal challenges.

Bessent said these actions aim to return US duty rates to their former levels within five months.