White House teases new trade action ‘soon’ as it works to re-create global tariff regime
Greer said the planned duties would cover most U.S. trade and replace expiring temporary levies after legal setbacks.
- On Tuesday, the Trump administration raced to finalize replacements for temporary 10% baseline tariffs expiring Friday, which the Supreme Court previously ruled illegal.
- Officials plan to impose new tariffs of 10% or 12.5% on 99.4% of all imports, citing inadequate efforts by trading partners to prevent forced labor amid recent legal setbacks.
- Separately, the administration announced 50% tariffs on many Canadian products effective in 30 days, alongside a 25% tariff on various Brazilian goods taking effect Wednesday.
- Utilizing Section 338 of the Tariff Act of 1938—a provision never previously used—the U.S. seeks leverage; trade lawyer Dave Townsend of Dorsey & Whitney warned of a "cycle of escalation and retaliation."
- With 16 major trading partners targeted over excess industrial capacity, Greer told CNBC on Tuesday to expect "action soon" on new tariffs, complicating the USMCA's future.
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US Set to Impose New Tariffs by Friday With Stopgap to Expire
President Donald Trump is poised to impose fresh levies on products from dozens of economies by Friday, according to people familiar with the matter, a move to ensure his tariff regime remains intact even after stopgap 10% global duties lapse.
White House advisers scramble to derail Trump's 'barrage' of new tariffs: report
Faced with the possibility that the Republican Party is headed for a wipeout in the November midterms, White House insiders are attempting to head off a Friday announcement by President Donald Trump of new tariffs.Trump is preparing to impose what the Financial Times is calling a "barrage" of fresh ...
Donald Trump is about to mess with the rules of international trade, with new tariffs on dozens of countries. But what is really at stake in this new offensive? Listen to the new episode of the Economy day by day, daily podcast of the Express led by Juliana Simões
Donald Trump threatens new duties on dozens of countries already this week. According to the Financial Times, the US administration has prepared several options to allow the president to introduce new tariffs before the expiry of the global duties of 10% on July 24. The forward rates had been introduced as a provisional measure, but now the administration [...] The article Duty, Trump is ready for new tariffs on 60 countries. And announces a 50%…
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New "next" tariffs against 60 economies
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