By: Brian Walczyk, Compliance Manager, TradeInsights, LCB, CCS

On March 4, 2026, Treasury Secretary Scott Bessent said the 10% Sec 122 global tariffs would likely be increased to 15% as seen here on CNBC.

Bessent went on to further state he believes U.S. tariff rates would return to where they stood before the Supreme Court struck down IEEPA, all by August.

The comment is most likely referring to joint efforts the USTR and Commerce Department are undertaking regarding trade-related studies that would open the door for Sec 301 or Sec 232 tariffs.

V. Alexander will continue to monitor this situation and issue updates as needed. Please contact your V. Alexander account team, or you may also contact our Trade Compliance team at tradeinsights@valexander.com with any questions, and you can always follow us on our website www.valexander.com for updates on this and other topics.