Treasury Secretary Scott Bessent testifies before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Feb. 5, 2026. Madalina Kilroy/The Epoch Times
President Donald Trump’s 15 percent global tariff will take effect sometime this week, Treasury Secretary Scott Bessent said.
Following the Supreme Court’s rebuke of the president’s signature economic policy last month, Trump imposed a 10 percent global tariff, invoking Section 122 of the Trade Act of 1974. A day later, Trump pledged to raise the rate to 15 percent.
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