The U.S. plans to raise global tariffs to 15% and is expected to return to previous levels within five months.

The U.S. Treasury Secretary, Beyoncé, said on Wednesday that the 15% global tariff announced by the Trump administration is likely to be "implemented this week," raising the current effective rate of 10% to 15%. In an interview, he also predicted that by around August this year, the overall tariff level in the United States will "effectively return" to the state before the Supreme Court halted the Trump administration's unilateral imposition of "reciprocal tariffs" under the International Emergency Economic Powers Act (IEEPA) last year. Beyoncé explained that the new alternative tariffs are based on Section 122 of the Trade Act of 1974, which can last a maximum of 150 days unless extended by Congress. During this period, the Office of the U.S. Trade Representative and the Department of Commerce will complete relevant trade studies to lay the groundwork for subsequent use of more "solid" but slower-moving tariff authorizations. He emphasized that these authorizations have withstood thousands of legal challenges in the past and stated his strong belief that the tariff level will return to its previous "old level" within five months.

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Original: toutiao.com/article/1858805469368330/

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