WASHINGTON – Treasury Secretary Scott Bessent announced Wednesday that President Donald Trump will likely implement higher temporary import duties on goods from around the world before the week ends, boosting rates from the current 10% to 15%.
Trump’s administration had to create new tariff measures after the Supreme Court invalidated his earlier worldwide duties that were established using national emergency powers. The president then put in place 150-day import taxes at 10% using Section 122 of the Trade Act of 1974 in late February.
When asked about Trump’s plan to increase the rate to 15%, Bessent told CNBC: “That’s likely sometime this week.”
The Treasury Secretary explained that during the 150-day window, government agencies will conduct comprehensive reviews to establish more permanent tariff structures. “During the 150 days, we will see studies from USTR on Section 301, tariffs from Commerce on Section 232,” Bessent stated, noting these alternative legal frameworks have proven more resilient against court challenges.
Bessent indicated the administration’s goal is to restore Trump’s tariff policies to their previous strength within a five-month timeframe using these more established legal mechanisms.
Regarding the Section 232 national security tariffs and Section 301 unfair trade practice duties, Bessent noted: “They are slow moving, but they are more robust.”
