Archive · 24 Jul 2026
US Imposes New Tariffs on 60 Economies
The US government is about to announce new tariffs on imports from 60 countries.
These tariffs will replace a temporary 10% tax that is about to expire.
The new tariffs will be between 10% and 12.5% and are aimed at protecting US industries and addressing concerns about forced labor in other countries.
The announcement will be made by US Trade Representative Jamieson Greer, but the exact details about when these new tariffs will start and which countries will be affected are not yet clear.
India has been placed in the lower tariff bracket of 10%, with the government officials claiming that New Delhi was initially in line for a 12.5% levy but managed to secure the reduced rate after productive discussions with Washington on labour practices.
The Trump administration will announce new tariffs on July 23.
The temporary 10% tariff on imports expires on July 24.
New tariffs will target 60 economies and range from 10% to 12.5%.
The new tariffs aim to address concerns related to forced labor.
Details about the implementation timeline and affected countries are still unclear.
- Who
- US Trade Representative Jamieson Greer, Trump administration
- What
- Announcement of new tariffs on 60 economies
- When
- July 23
- Where
- United States
- Why
- To replace expiring temporary tariffs and address concerns related to forced labor
Trade Protectionism
Free Trade Advocates
Economic Policy
Trade Protectionism
Supports tariffs to protect domestic industries and jobs from foreign competition.
Free Trade Advocates
Opposes tariffs, arguing they lead to higher consumer prices and potential trade wars.
Legal Basis
Trade Protectionism
Believes the new tariffs are legally sound and necessary to address concerns like forced labor.
Free Trade Advocates
Questions the legality and durability of the tariffs, citing previous court rulings.
- Announcement Date
- July 23
- Expiry of Temporary Tariff
- July 24
- Temporary Tariff Rate
- 10%
- New Tariff Range
- 10% to 12.5%
- Number of Targeted Economies
- 60
- Legal Basis
- Forced labor concerns
- Implementation Date
- Friday
- Countries with 10% Tariff
- 17 countries including India, UK, Canada, Indonesia, Mexico, Bangladesh
Sources
US to make tariff announcement today as temporary 10% import duty nears expiry
US set to announce new tariff plan as temporary 10% duty nears expiry
Trump Targets 60 Nations With Fresh Tariffs, India Among 17 Economies In 10% Lower Slab
Trump Tariffs 2.0 Kick Off Today: US Slaps 10% Tariff on India Under Section 301 Forced Labor Action
