The United States is set to raise its temporary global tariff to 15% within the week, as stated by Treasury Secretary Scott Bessent on Wednesday. This decision follows a recent Supreme Court ruling that invalidated previous tariffs under the International Emergency Economic Powers Act (IEEPA). The initial global surcharge, established at 10% by former President Donald Trump, was part of efforts to reconstruct the tariff regime after the court’s decision.
The newly proposed global tariff will take effect sometime this week and is designed to last for 150 days, unless Congress acts to extend it, as permitted under Section 122 of the Trade Act of 1974. Bessent expressed confidence that the tariff rates would return to previous levels within five months during an interview with CNBC.
Investigations and Future Tariff Actions
In conjunction with the tariff increase, the Trump administration is prioritizing investigations that could lead to additional duties on foreign imports. U.S. Trade Representative Jamieson Greer announced that these Section 301 investigations will be completed within the next five months, potentially affecting trading practices of various countries. Previous investigations have already resulted in tariffs on imports from nations such as China and Nicaragua.
The administration aims to recreate much of Trump’s previous tariff regime through the new mechanisms. Bessent emphasized the belief that existing trading agreements may be influenced by the Supreme Court’s ruling, raising questions about their stability.
Impact on International Trade Agreements
Trade agreements forged with multiple countries last year could be at risk due to the recent judicial ruling. Greer acknowledged that several nations are keen on maintaining their agreements, despite the uncertainty created by the U.S. decision. During a bilateral meeting with Germany’s Chancellor Friedrich Merz, Trump expressed confidence in the status of existing tariff deals and suggested that the U.S. may “adjust it somewhat upward” in certain circumstances.
However, the European Union has already reacted cautiously, pausing efforts to implement components of a pact established last August. The EU stated that the current situation is not conducive to fostering “fair, balanced, and mutually beneficial” trade, as outlined in the EU-U.S. Joint Statement of August 2025.
Following discussions with Trump, Merz reaffirmed his support for the deal but expressed concerns over potential changes to the terms due to the forthcoming tariffs. The evolving landscape of U.S. trade policy poses challenges for international partnerships as stakeholders await further developments from the White House.
