U.S. Treasury Secretary: "Global Tariffs to Be Raised to 15% This Week"

Scott Bessent, the U.S. Secretary of the Treasury, announced on the 4th (local time) that the global tariffs newly imposed by President Donald Trump will be raised from 10% to 15% starting this week.

In an interview with CNBC that day, Secretary Bessent said regarding the plan to increase tariffs from 10% to 15%, "It will probably be implemented sometime this week," adding, "This is based on Section 122 of the Trade Act."

Previously, when the U.S. Supreme Court ruled that the reciprocal tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were illegal, President Trump signed a proclamation imposing a 10% global tariff under Section 122 of the Trade Act, which took effect on the 24th of last month. Subsequently, President Trump stated that he would raise the global tariff to 15%, the maximum allowed by law.

Secretary Bessent emphasized, "For 150 days, we will be reviewing the results of the U.S. Trade Representative's investigations under Section 301 of the Trade Act and the Department of Commerce's investigations under Section 232 of the Trade Expansion Act. With strong confidence, I believe the tariff rate will return to previous levels within five months."

He added, "These provisions are extremely powerful and comprehensive authorities that have survived more than 4,000 legal disputes. The process may move somewhat slowly, but it is much more robust."

This content was produced with the assistance of AI translation services.