US to impose 10-12.5% tariffs on 60 trading partners as global 10% levy expires

The United States will impose tariffs of 10% to 12.5% on imports from 60 trading partners effective just after midnight on July 24, replacing the temporary 10% global tariff that expires at that time, the Office of the U.S. Trade Representative announced on July 23. Countries that have adopted bans on forced-labor goods will face the lower 10% rate, while those without such restrictions will face 12.5%, with the new duties covering more than 99% of U.S. trade and excluding some raw materials, goods lacking sufficient U.S. supply and products that could cause broader economic disruptions, with existing steel and aluminum tariffs remaining separate .

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