Scott Bessent gradually pushes 2.5% Universal US Tariffs Plan

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Donald Trump’s Finance Minister Scott Bessent is pushing for new universal tariffs on US imports to start with 2.5 percent and gradually increase, four people who are familiar with the proposal said.

The 2.5 percent tax would move higher with the same amount each month, the people who are familiar with and gave companies time to adapt and the countries the chance to negotiate with the US president’s administration.

The charges could be pushed up to as high as 20 percent – in line with Trump’s maximalist position on the campaign track last year. But a gradual introduction would be more moderate than the immediate action that some countries feared.

The proposal from Bessent comes as Trump’s team debates how to implement customs plans where the president escalates his customs dormic on Monday in a speech in Florida, threatening more tasks against semiconductors, metals and pharmaceutical goods.

“We have to bring production back to our country,” Trump said.

The president spoke after a day of unrest in US stock markets, triggered by a technical sale as China seemed to take a leap ahead of the United States in the global artificial intelligence.

His threat to impose duty rates for semiconductors coming into the United States would be difficult to implement considering the influence of tech companies that depend on chipmakers like Taiwan’s TSMC.

In contrast, Bessent’s plan would see only 2.5 percent added to duties each month. Two people who were familiar with the discussions said it was unclear whether the Treasury had convinced other key stakeholders, including Howard Lutnick, Trump’s election for trade secretary, to adopt his proposal for a gradual introduction of customs.

A person who is familiar with Bessent’s thinking refused to comment on the post of the proposal, but said, “He does not prepare any plans, but if confirmed looks forward to being part of the conversation.”

Bessent was comfortably confirmed as the next US Finance Ministry of a Senate Voting of 68-29 Monday night. Just hours later, talking to journalists about Air Force One, Trump said he would have “much, much bigger” duty than 2.5 percent.

The tariff policy is at the center of tough trade debates between Høge such as Peter Navarro and Jamieson Greer and moderates as Bessent.

Trump has threatened to force tariffs of up to 25 percent on imports from Canada and Mexico as soon as this weekend, and in recent days Colombia threatened with 25 percent duty in a dispute over deported.

Another person who is familiar with Trump’s thinking said he weighs different options. “There is not a single plan that the president is ready to decide yet.”

While Bessent and other advocates of the low initial tariff believe it would give countries and businesses time to adapt and negotiate, critics count that a higher initial rate would send a clearer message.

Trump made high tariffs for a core of his “America First” campaigning noric last year, and in September promised to “tax” foreign nations “at levels that they are not used to”.

But since his inauguration on January 20, the president’s most important step has been to publish a memorandum that outlines probes in US trade policy, the reason for the country’s trade deficit and for competitors manipulates currencies and unfairly taxing US companies.

When asked by journalists last week if he planned to introduce universal tariffs, Trump replied: “We may be. But we’re not ready for it yet. “

Trade analysts and lawyers have said that Trump could charge universal tariffs quickly by using performing powers such as International Emergency Economic Powers Act, which allows the president to respond to emergencies through financial resources.

However, trade experts have also warned the use of IEEPA to issue broad tariffs that are likely to face legal challenges from business groups.

Trump, who has long written against the US trade deficit, has suggested that duty would be a way of raising revenue for the country.

“Instead of taxing our citizens for enriching other countries, we will duty and tax foreign countries to enrich our citizens,” he said in his initial address.

In his US Senate confirmation hearings last week, Bessent said the Trump administration would use tariffs to tackle unreasonable commercial practices, raise US government income and strike agreements abroad.

The White House did not respond to a request for comment.

Further reporting from Myles McCormick in Washington