U.S. set to impose fresh tariffs before temporary global duties expire

The Trump administration is preparing to slap new tariffs on imports from up to 60 economies by July 24, 2026, to prevent a gap after temporary 10% global duties lapse. The proposed Section 301 duties range from 10% to 12.5% and target countries including Canada, Mexico, the European Union, Taiwan, China, India, and Japan, citing alleged lax forced-labor standards. The administration’s stopgap 10% tariff, imposed under Section 122 of the Trade Act, is set to expire on July 24. If the new levies are implemented by then, the White House would avoid any interruption in the tariff regime. The move comes despite criticism that import taxes drive up consumer prices ahead of November’s midterm elections. Critics argue tariffs raise living costs, while the administration insists they are necessary to rebuild U.S. manufacturing and protect domestic industries. Separate tariffs targeting excess capacity in certain sectors are still under review and require public comment and hearings, meaning they won’t be in place by July 24. U.S. Trade Representative Jamieson Greer confirmed that action on the forced-labor investigation is imminent but declined to provide specifics, stating that implementation details would be shared with Congress and stakeholders before being made public. The administration has also escalated trade tensions with Canada, vowing to impose 50% tariffs on many Canadian goods, and last week applied a 25% tariff on many Brazilian products.