The Office of the United States Trade Representative announced on the 23rd that, under Section 301 of the 1974 Trade Act, tariffs ranging from 10% to 12.5% will be imposed 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 00:01 Eastern Time on July 24th (12:01 Beijing Time on July 24th).
After the US Supreme Court rejected its largest tariff measure in February this year, the Trump administration has instead adopted a temporary 10% global tariff measure. These tariff measures will expire at 00:01 Eastern Time on July 24th.
Previously reported
CCTV reporter learned on the 21st local time that US President Trump will impose new tariffs on dozens of countries as early as this week. US Trade Representative Jamison Greer hinted in an interview that the US federal government will soon introduce new tariff policies to replace the soon to expire 10% global import tariff.
Greer said that he is currently unable to provide a specific timeline for the introduction of the new tariff policy, and the policy needs to be communicated to Congress and other stakeholders before it is officially announced.
Greer stated that the US government is expected to impose tariffs of 10% to 12.5% on 60 countries and regions under the pretext of so-called "forced labor" under Section 301 of the 1974 Trade Act, in place of the expiring global import tariffs.
Previously, the Office of the United States Trade Representative announced on June 2 that the United States plans to impose tariffs of 10% or 12.5% on 60 economies on the grounds of "not prohibiting the import of forced labor products," sparking widespread opposition from trading partners.
On February 20th of this year, US President Trump announced that under Section 122 of the 1974 Trade Act, a global tariff of 10% would be imposed on all countries for a period of 150 days.
