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

Odaily Planet Daily News: The Office of the United States Trade Representative (USTR) released a notice on the 23rd local time, announcing the imposition of 10% to 12.5% tariffs on dozens of countries and regions under the pretext of "forced labor" based on 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 tariff expires, this round of tariffs will target 60 economies, covering more than 99% of U.S. trade volume. Senior U.S. officials stated that tariff measures for goods in transit will take effect at 12:01 AM Eastern Time on July 28 (12:01 PM Beijing time on July 28). Imports such as fuel, food, and fertilizer will be exempt from the new tariffs; products subject to separate industry-specific tariffs (such as automobiles, metals, and pharmaceuticals) are also not within the scope. Additionally, goods covered by the United States-Mexico-Canada Agreement (USMCA) will also receive exemptions. U.S. officials pointed out that the new tariffs will not be stacked with existing steel and aluminum import duties (i.e., the "Section 232" tariffs imposed by Trump last year on national security grounds). (Jin Shi)