Bessent says global 15% tariff starts this week, move back to prior rates within 5 months

Treasury Secretary Scott Bessent on Wednesday said President Donald Trump 's recently announced 15% global tariff will be implemented sometime this week. Bessent, in an interview on CNBC's " Squawk Box ," also predicted that U.S. tariff rates would soon effectively return to where they stood before the Supreme Court struck down Trump's most expansive duties. "It's my strong belief that the tariff rates will be back to their old rate within five months," Bessent said. watch now VIDEO 19:55 19:55 Watch CNBC's full interview with Treasury Secretary Scott Bessent Squawk Box Read more CNBC politics coverage Iran war live updates: U.S. closes embassies in Saudi Arabia, Kuwait Five races to watch on the day the 2026 midterm elections kick off ‘Mistakes were made,’ Grassley tells Noem about Trump’s immigration crackdown This is breaking news. Please refresh for updates. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Sign Up Now Get this delivered to your inbox, and more info about our products and services. Advertise With Us Please Contact Us Ad Choices Privacy Policy Your Privacy Choices CA Notice Terms of Service © 2026 Versant Media, LLC. All Rights Reserved. A Versant Media Company. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Market Data Terms of Use and Disclaimers Data also provided by