US Treasury Secretary Scott Bessent stated that the United States is "likely" to implement a 15% global tariff this week. This move aims to replace sweeping global import taxes that were struck down by the Supreme Court. White House officials maintain they can utilize other legal tools to reinstate tariff policies intended to rebalance trade, boost American manufacturing, and reduce US debt. Bessent expressed his belief that "the tariff rates will be back to their old rate within five months."
Previously, the White House used an untested trade authority, Section 122, to impose a 10% tariff without congressional approval for 150 days under specific conditions. The upcoming tariff could reset the competitive landscape for international shipments. The administration is also considering other legal avenues, such as Section 301 for unfair trade practices and Section 232 for national security threats, which typically target specific countries or industries but require more procedural steps.