Stories

Wed, 04 Mar 2026

Wed, 04 Mar 2026 Higher tariffs likely this week, says US Treasury

Scott Bessent says that "likely sometime this week" the US will increase its global tariff on imports from the existing 10%.

* US Treasury Secretary Scott Bessent says the country is likely to impose a 15% global tariff this week.
* The new tariff will replace the previous global import taxes that were struck down by the Supreme Court.
* The White House has previously said it was working on paperwork to align duties with Trump's statements, despite initially imposing a 10% tariff.
* Businesses and world leaders have been calling for clarity after conflicting statements from President Donald Trump about the rate.
* The White House will use other legal tools to restore its tariff regime more permanently.
* Bessent expects the tariff rates to be back to their old rate within five months.
* The administration is facing claims from firms who had previously paid the tariffs that were struck down, with potential refunds of up to $130bn.
* Significant questions remain about what US import tax policies will look like going forward.