Trump’s 15% global tariffs likely to start this week, US Treasury chief says
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US Treasury Secretary Scott Bessent indicated that President Trump's planned increase of a universal tariff from 10% to 15% is likely to be implemented this week. The tariff increase follows Trump's initial imposition of a 10% levy after the Supreme Court invalidated much of his previous tariff system. Trump then quickly threatened to raise the rate to 15%. While the 10% charge took effect last month, the administration did not immediately increase it. Bessent's statement provides the clearest timeline yet for the tariff hike, despite previous suggestions that the higher rate might not be universally applied.
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