The United States has imposed tariffs of 10% to 12.5% on 60 economies

Odaily Odaily U.S. Trade Representative (USTR) announced on the 23rd that it will impose tariffs of 10% to 12.5% on dozens of countries and regions under the pretext of "forced labor," citing Section 301 of the Trade Act of 1974, to replace the soon-to-expire global import tariffs. The new tariffs will take effect at 12:00 PM Eastern Time on the 24th (12:00 PM Beijing time on the 24th). USTR stated that as the 10% global tariffs expire, the new tariffs will be applied to 60 economies, covering more than 99% of U.S. trade volume. A senior U.S. official said that tariff measures on goods in transit will take effect at 12:01 AM Eastern Time on July 28 (12:01 PM Beijing time on July 28). Imported goods such as fuel, food, and fertilizers will be exempt from the new tariffs; products subject to separate industry-specific tariffs (such as automobiles, metals, and pharmaceuticals) are also excluded. In addition, goods covered by the U.S.-Mexico-Canada Agreement (USMCA) will also be exempt. U.S. officials pointed out that the new tariffs will not be stacked on top of existing steel and aluminum import taxes (i.e., the "Section 232" tariffs imposed by Trump last year on national security grounds). (Jin Shi)