The Trump administration is preparing to increase its recently announced global tariff from 10% to 15%, with Treasury Secretary Scott Bessent indicating the change could take effect as soon as this week.
The 10% tariff was introduced after the U.S. Supreme Court ruled in February that the President did not have the authority to impose sweeping import duties under the International Emergency Economic Powers Act (IEEPA). The Court’s 6–3 decision effectively invalidated the broader tariff structure that had been put in place last year without congressional approval.
Following the ruling, the administration pivoted quickly. President Trump signed an executive order establishing a 10% global tariff under a separate legal authority — Section 122 of the Trade Act of 1974 — and soon after stated that the rate would rise to 15%. However, the tariff initially took effect at the lower 10% level.
Bessent said the move to 15% is likely imminent.
Importantly, Section 122 allows tariffs to remain in place for up to 150 days unless Congress extends them. During that window, federal agencies — including the Office of the U.S. Trade Representative and the Commerce Department — are expected to conduct studies that could support longer-lasting trade actions under other statutory authorities.
Bessent also expressed confidence that broader tariff levels could return to prior levels within several months, this time relying on more established trade laws that have historically withstood legal scrutiny.
If implemented, a 15% global tariff would represent a meaningful shift in trade policy and could affect:
- Import costs for U.S. businesses
- Supply chain pricing pressures
- Consumer goods pricing
- Inflation trends
- Market sentiment, particularly in trade-sensitive sectors
While markets have grown accustomed to policy volatility in recent years, the legal back-and-forth introduces another layer of uncertainty for businesses and investors.
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