Trump Administration Imposes 10-12.5% Tariffs on 60 Trading Partners on July 26

According to Benzinga, the Trump administration announced on July 26 new tariffs ranging from 10% to 12.5% on approximately 60 trading partners, with over 80 countries covered when EU member states are counted individually. The new tariffs cover over 99% of U.S. imports.

Countries deemed compliant with forced labor standards face a 10% tariff rate, while non-compliant trading partners are subject to 12.5%. The policy is based on Section 301 of U.S. trade law and was announced hours before the expiration of a 10% global tariff under Section 122.