From Quartz.

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Treasury Secretary Scott Bessent told CNBC the administration’s temporary global import tariff could increase from 10% to 15%, a near-term change with economic stakes.
The White House imposed a 10% tariff on most imports at 12:01 a.m. ET on Feb. 24, 2026, under Section 122 of the 1974 Trade Act, which permits a temporary import surcharge of up to 15% for 150 days unless Congress extends it.
The Supreme Court struck down earlier “Liberation Day” tariffs imposed under national-emergency powers. Officials are preparing longer-term actions under Section 301 and Section 232.
Tariffs take effect only after executive orders are issued, and the proclamation runs until 12:01 a.m. ET on July 24, 2026, unless changed or extended. Separate steel, aluminum, and auto tariffs remain. #tariffs #tradepolicy #trumpadministration #economy #businessuncertainty

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