US intends to raise global import tariffs to 15% this week – Bessent
US Treasury Secretary Scott Bessant said that President Donald Trump’s recently announced 15% global tariffs will likely be implemented this week.
CNBC reports.
The decision means an increase from the current rate, which is currently 10%.
Bessant also predicted that by August, US tariff rates will effectively return to what they were before the Supreme Court recently overturned the often harsher tariffs that Trump unilaterally imposed on most countries around the world last year.
“I firmly believe that tariff rates will return to their old levels within five months,” Bessant said in an interview with CNBC’s “Squawk Box.”
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