US Treasury Secretary Predicts Global Tariff Increase to 15% This Week
In Brief
US Treasury Secretary Scott Bessent expects global tariffs to rise from 10% to 15% this week.
Key Facts
- US Treasury Secretary Scott Bessent stated that global tariffs are expected to rise to 15% this week.
- Current global tariff rates are at 10%, according to Bessent.
- Tariff rates fell after a Supreme Court ruling last month, per Bessent.
- Bessent said tariffs would return to previous levels within five months.
- Bessent made these comments in public statements reported by both NYT and BBC World.
What Happened
US Treasury Secretary Scott Bessent announced that global tariffs on imports, currently at 10%, are expected to rise to 15% this week. He also noted that tariff rates had dropped after a Supreme Court ruling last month.
Why It Matters
A rise in global tariffs may impact international trade and import costs. The change follows a recent Supreme Court decision that affected tariff rates.
What's Next
Observers are watching for official confirmation of the tariff increase and its effects on trade. Bessent indicated tariffs may return to previous levels within five months.
Sources
- NYT — Bessent Says Global Tariffs Will Rise to 15% This Week(6d ago)
- BBC World — Higher tariffs likely this week, says US Treasury(6d ago)