In the United States, Treasury Secretary Scott Bessent indicated that the government is likely to implement a 15% global tariff on imports soon. This announcement follows the US Supreme Court's decision to strike down the previous sweeping global import taxes imposed by President Donald Trump, which started at 10% and were associated with his 'Liberation Day' tariffs. The tariffs are part of the administration's strategy to rebalance trade and support domestic manufacturing while addressing national debt. The White House has previously invoked an untested trade authority, Section 122, to impose the 10% tariff and is expected to explore additional legal tools, including Sections 301 and 232, for future tariff implementations. The administration is currently facing substantial claims for refunds from firms that had previously paid tariffs that were nullified by the Supreme Court ruling, which might lead to taxpayers being liable for around $130 billion. Amid ongoing military tensions with Iran, Bessent also stated that the country's military failures prompted them to engage in economic chaos, highlighting the complexity of the current global trade landscape under US foreign policy. With the administration advocating for more stringent tariff measures, the implications for international trade and relations could be significant.