White House official: Trump administration is working to change new temporary United States tariff rate to 15% from 10% published by Customs and Border Protection

White House official: Trump administration is working to change new temporary United States tariff rate to 15% from 10% published by Customs and Border Protection

Trump Administration Seeks to Raise U.S. Tariff Rate to 15% from 10%

The Trump administration is reportedly working to increase the newly imposed temporary U.S. tariff rate from 10% to 15%, according to a White House official. This follows the implementation of a 10% global tariff on February 24, 2026, under Section 122 of the Trade Act of 1974, which allows the president to address "fundamental international payments problems" through temporary import duties.

The initial 10% rate was announced after the Supreme Court invalidated prior tariffs justified under the International Emergency Economic Powers Act (IEEPA). President Trump initially proposed a 10% tariff but later stated on Truth Social that he would raise the rate to 15% "effective immediately". However, U.S. Customs and Border Protection's official notice specifies the 10% rate, and no formal documentation has yet confirmed the 15% increase.

The administration's rationale for the tariffs centers on addressing a $1.2 trillion annual goods trade deficit and a current account deficit of 4% of GDP, which it attributes to declining domestic production. The 10% duty applies to most imports, with exemptions for critical goods such as pharmaceuticals, agricultural products, and energy resources. The rate is temporary, valid for 150 days, and requires congressional approval for extension.

While the White House has not clarified the timeline for raising the tariff to 15%, it emphasized that tariffs remain a key tool for reshoring production and negotiating trade agreements. The European Union, Japan, and the United Kingdom have signaled intent to honor existing trade deals, but uncertainty persists over how the rate change might affect global markets.

Investors are advised to monitor official updates, as the discrepancy between public statements and formal documentation highlights the evolving nature of U.S. trade policy under the Trump administration.