US readies tariffs on imports from 60 economies as Friday deadline nears
What's next: The current 10% Section 122 tariffs expire Friday, and proposed Section 301 duties could reach 12.5% on goods tied to forced labor concerns.
The Trump administration is preparing another round of tariffs on imports from 60 economies as a temporary 10% blanket duty is set to expire Friday. U.S. Trade Representative Jamieson Greer said action is expected soon, pointing to a shift toward Section 301 of the Trade Act of 1974 after the administration's broader reciprocal tariff regime was struck down earlier this year. In early June, the Office of the U.S. Trade Representative proposed duties of up to 12.5% tied to alleged forced labor issues. Greer said the plan would cover about 99% of U.S. trade. Economies named in the investigations include China, the European Union, Singapore, Switzerland, Indonesia, Malaysia, Cambodia, Thailand, South Korea, Vietnam and Taiwan.