According to a report from SupplyChainDive, the White House has detailed a schedule for further trade measures as it works to rebuild a comprehensive tariff system. Treasury Secretary Scott Bessent stated that an existing temporary global tariff will probably be raised to 15 percent imminently.

Read also: US Raises Temporary Global Import Tariff to 15% Under Trade Act

President Donald Trump first established this global surcharge at 10 percent after a Supreme Court ruling eliminated previous tariffs. He subsequently indicated an intent to increase it to 15 percent, though without specifying a schedule. This global tariff is set to lapse after 150 days unless Congress acts to extend it, as authorized by a specific section of trade law from 1974.

Concurrently, the administration is accelerating investigations that may result in more duties. The U.S. Trade Representative noted these inquiries would conclude within five months. Similar past investigations have resulted in tariffs on goods from specific nations.

The Treasury Secretary expressed a firm expectation that tariff rates would return to their previous levels within that five-month timeframe. As the administration advances its tariff agenda, a key uncertainty is the impact on trade agreements negotiated with multiple countries last year, many of which were formed in reaction to the earlier tariff regime.

The U.S. Trade Representative acknowledged that nations with these agreements are keen to maintain them. During a meeting with Germany’s chancellor, Friedrich Merz, the President voiced assurance about the standing of tariff deals and suggested possible upward adjustments in certain cases. However, the European Union has already paused work on implementing an agreement from last August, citing a need for clarity on U.S. intentions following the court’s decision. The European Commission stated the present circumstances hinder the realization of mutually beneficial trade.

Following discussions with the President, Chancellor Merz indicated continued support for a deal, but not if its conditions were altered by new U.S. tariff measures.

Source: IndexBox Market Intelligence Platform