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The United States has imposed additional tariffs ranging from 10% to 12.5% on 60 economies, with the measures taking effect today.

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The Office of the United States Trade Representative (USTR) issued a notice on local time the 23rd, announcing that under Section 301 of the Trade Act of 1974, it would impose additional tariffs of 10% to 12.5% on dozens of countries and regions under the pretext of so-called "forced labor" to replace the expiring global import tariffs. The new tariffs will take effect at 12:00 noon ET on the 24th (12:00 noon Beijing time on the same day). The USTR stated that as the 10% global tariff is set to expire, this round of tariffs will be levied on 60 economies, covering more than 99% of U.S. trade volume. Senior U.S. officials added that tariff measures for goods in transit will take effect at 12:01 a.m. ET on July 28 (12:01 noon Beijing time on the same day). Imported goods including fuel, food, and fertilizers will be exempt from the new tariffs; products subject to specific industry-specific tariffs (such as automobiles, metals, and pharmaceuticals) are also excluded from the levy. Additionally, goods covered by the United States-Mexico-Canada Agreement (USMCA) will also be granted exemptions. U.S. officials noted that the new tariffs will not be imposed in tandem with existing steel and aluminum import taxes, namely the "Section 232" tariffs implemented by the Trump administration last year on national security grounds.

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