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Trump Administration Imposes New 10%-12.5% Tariffs on 60 Trading Partners Starting July 24

2026-07-23 23:37:12

According to U.S. government officials, the Trump administration will impose new Section 301 tariffs effective July 24 at 12:01 a.m. ET, addressing alleged forced labor violations. The tariffs, ranging from 10% to 12.5%, will apply to 60 trading partners and cover over 99% of U.S. trade. Countries that have passed adequate forced labor prevention legislation will face 10% rates, while those with insufficient measures face 12.5%. South Korea and Japan are subject to the higher 12.5% rate. However, oil, gas, fertilizer, specific food products, and items already under Section 232 national security tariffs will be exempt. USMCA-compliant goods with high U.S. content ratios will also be excluded.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Related News

U.S. Officials Reduce Tariffs on India, Other Nations From 12.5% to 10% on July 23

U.S. Tariffs Target 60 Economies Representing 99% of Trade, Effective July 28

U.S. to Announce 10% Tariff Response Plan Thursday as Duty Set to Expire Friday

Trump Administration Prepares Section 301 Tariffs on July 24 as 10% Global Duty Expires; South Korea Eyes 15% Cap

Trump Plans New Tariffs on Dozens of Nations This Week as 10% Rate Expires Friday

In-Depth Analysis

US Section 301 Tariffs Replace 10% Global Levy on July 24, South Korea Stocks Face Limited Impact

Lucas Bennett07-22 21:45

US Trade Representative Greer Announces Imminent Section 301 Forced Labor Tariffs

Lucas Bennett07-21 15:38

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