Bessent: Trump's 15% tariffs will start this week

New 15% tariffs are expected to kick in this week, says United States Treasurer Scott Bessent.

These new global trade tariffs were promised to be at a flat 15%, but then came into effect at 10% last week instead.

Now, in a recent interview with CNBC Squawk Box, Bessent has promised that it will be rectified this week

He told the outlet that tariff rates under the Trump administration would be working their way back to similar levels of last year, before the Supreme Court blocked them recently, starting with the 15% this week.

“It’s my strong belief that the tariff rates will be back to their old rate within five months…they have survived more than 4,000 legal challenges,” he said. 

“They are more slow-moving, but they are more robust.”