The Office of the United States Trade Representative said on July 23 local time that Washington will impose additional tariffs of 10% to 12.5% on 60 economies under Section 301 of the Trade Act of 1974, citing what it described as “forced labor.” The move is intended to replace a global import tariff that is about to expire. According to the announcement, the new tariffs take effect on July 24 Eastern Time, or noon on July 24 in Beijing. USTR said the measure covers more than 99% of U.S. trade value. Senior U.S. officials also said separate tariff treatment for goods already in transit will begin at 12:01 a.m. Eastern Time on July 28. Fuel, food and fertilizer imports are exempt, as are products already subject to sector-specific tariffs such as autos, metals and pharmaceuticals. Goods covered by the United States-Mexico-Canada Agreement are also excluded. U.S. officials added that the new tariffs will not be stacked on top of existing steel and aluminum import duties imposed last year under Section 232.
BlockBeats reported on July 24 that the Office of the United States Trade Representative said in a notice issued on July 23 local time that it will levy additional tariffs of 10% to 12.5% on dozens of countries and regions under Section 301 of the Trade Act of 1974, citing what it called “forced labor.” The new duties are meant to replace a global import tariff that is nearing expiration.
USTR said that, as the 10% global tariff approaches expiry, the latest round will apply to 60 economies and cover more than 99% of U.S. trade value. The tariffs take effect on July 24 Eastern Time, which corresponds to noon in Beijing on July 24.
Senior U.S. officials said tariff measures for goods already in transit will take effect at 12:01 a.m. Eastern Time on July 28, or 12:01 p.m. in Beijing on July 28.
Fuel, food and fertilizer imports will be exempt from the new duties. Products already subject to separate sector-specific tariffs, including autos, metals and pharmaceuticals, are also excluded. Goods covered by the United States-Mexico-Canada Agreement, or USMCA, will receive exemptions as well.
U.S. officials said the new tariffs will not be imposed on top of existing steel and aluminum import duties, referring to the Section 232 tariffs that former President Donald Trump put in place last year on national security grounds.
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