Scott Bessent predicts that Trump will raise tariffs to 15% in the near future

Washington’s Rapid-Fire Tariff Strategy

The U.S. government is approaching trade negotiations with urgency and limited tools. Treasury Secretary Scott Bessent announced on CNBC that President Donald Trump’s new global import tariff is set to rise from 10% to 15%, and the change could be implemented very soon.

“That could happen as early as this week,” he stated. This approach is reminiscent of watching a precarious Jenga tower and insisting the instability is intentional. While the administration emphasizes swift action, businesses are left navigating a system that is still under reconstruction.

Legal Shifts and New Tariff Tools

The Supreme Court overturned Trump’s previous “Liberation Day” global tariffs, which were enacted under emergency powers, forcing the administration to find a new legal basis. The chosen replacement is Section 122 of the 1974 Trade Act—a seldom-used provision that allows the president to impose a temporary import surcharge on nearly all goods, but only up to a maximum of 15% and for no more than 150 days unless Congress approves an extension.

This authority is designed to address balance-of-payments issues, giving Washington time to develop a more permanent tariff framework with stronger legal footing. However, these tariffs have neither gained widespread support nor achieved the results the president has promised.

Implementation Details and Timeline

The White House has issued a proclamation setting a 10% surcharge on nearly all imports (with certain exceptions), specifying that it will apply to goods entering the U.S. from 12:01 a.m. ET on February 24, 2026, through 12:01 a.m. ET on July 24, 2026, unless modified sooner or extended by Congress.

Temporary Measures and Long-Term Plans

When Bessent mentions a quick return to previous tariff rates, he’s describing a transition period. Section 122 acts as a short-term solution, while Sections 301 and 232—more complex and legally robust processes—are being prepared for longer-lasting tariffs. “During the 150-day window, we’ll see investigations under Section 301 from the USTR and potential tariffs from the Commerce Department under Section 232,” Bessent explained.

Practical Considerations and Uncertainties

There’s a practical necessity for formal action: Customs can only enforce tariffs that are officially documented in executive orders or proclamations, and the White House has yet to announce a definitive schedule for the 15% increase. Tariffs only become effective once the necessary paperwork is in place.

Looking Ahead: The Race Against Time

The Trump administration is working quickly to replace the temporary tariffs before the late July deadline, regardless of whether additional safeguards are in place. Meanwhile, sector-specific tariffs on steel, aluminum, and automobiles remain active under separate legal authorities, so the overall tariff regime continues.

The administration is counting on completing the transition within five months, aiming to maintain its tariff stance while shifting to legal grounds that have proven more resilient in court. If successful, this temporary measure could become permanent. However, whether Congress will extend these authorities—or if new legal challenges will emerge—remains uncertain.