USTR Signals Up to 12.5% Tariffs on 60 Economies as 10% Trump Levies Near Expiry
Updated
Updated · CNBC · Jul 21
USTR Signals Up to 12.5% Tariffs on 60 Economies as 10% Trump Levies Near Expiry
3 articles · Updated · CNBC · Jul 21
Summary
Jamieson Greer said new Trump tariffs could come "soon," pointing to another round of duties just days before the administration's current 10% blanket import tariffs are due to lapse Friday.
The planned action centers on Section 301 tariffs of up to 12.5% on imports from 60 economies, which USTR proposed in early June over alleged forced-labor practices.
Greer said the targeted economies account for about 99% of U.S. trade, arguing the breadth of the proposal reflects the scale of the forced-labor problem rather than a narrow country-specific dispute.
The move would help preserve Trump's tariff regime after his broader "liberation day" tariffs were struck down, leaving the February Section 122 duties set to expire at 12:01 a.m. ET Friday unless Congress acts.
With the U.S. levying unilateral tariffs on 60 nations, what does this mean for the future of global trade law?
As new tariffs target nearly all U.S. trade, how will global supply chains and economic alliances be permanently altered?
Can tariffs on 60 nations truly combat forced labor, or will they primarily raise costs for American consumers?
U.S. Proposes New Section 301 Tariffs on 60 Economies: Legal, Economic, and Geopolitical Impacts After Supreme Court Ruling
Overview
The United States Trade Representative has proposed new Section 301 tariffs as part of the Trump administration’s broader strategy to rebuild trade measures after previous tariffs were struck down by the Supreme Court. These tariffs aim to address unfair foreign trade practices, with a special focus on combating forced labor in global supply chains. Section 301 of the Trade Act of 1974 gives the President authority to impose these levies, which are not limited by the same time or rate restrictions as earlier Section 122 tariffs. This shift allows for more sustained and targeted trade policy interventions.