The United States will increase additional import tariffs to 15% "sometime this week", US Treasury Secretary Scott Bessent announced in an interview with CNBC on 4/3. This escalation follows a recent Supreme Court decision and marks a shift in the administration's trade policy.
The move comes after the US Supreme Court on 20/2 rejected US President Donald Trump's previous import tariff policies. The Court found that Trump had overstepped his authority by implementing these tariffs under the International Emergency Economic Powers Act (IEEPA). In immediate response to the ruling, Trump signed an executive order on 20/2 to impose a 10% additional import tariff, and a day later, he declared his intention to raise this rate to 15%.
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US Treasury Secretary Scott Bessent in Washington 10/2025. Photo: AP |
The new tariffs are justified under Section 122 of the Trade Act of 1974. This legislation grants the President authority to levy a maximum tariff of 15% for up to 150 days to address a "large and serious balance of payments deficit" for the US. Any extension beyond this 150-day period requires approval from Congress.
Goods imported into the US began incurring the temporary 10% tariff from 0:01 on 24/2 (US time). Concurrently, US Customs and Border Protection (CBP) ceased collecting tariffs that were previously related to IEEPA. Bessent anticipates that by August, US import tariffs will revert to the levels seen before the Supreme Court's ruling. "I strongly believe that the tariffs will revert to their previous rates within five months," Bessent stated.
During the 4/3 interview, Bessent affirmed that within the 150-day period, the Office of the US Trade Representative and the US Department of Commerce would finalize trade-related studies. These studies are crucial for enabling the administration to apply further import tariffs under legally robust authorities. "The new tariffs will be based on authorities that have withstood legal challenges. Things are progressing slower, but more steadily," he added.
Ha Thu (Source: CNBC, Reuters)
