White House Teases New Tariffs as Old Ones Near Expiry

21.07.2026 · By Bernal Fintech Markets Desk

The White House has signaled that new trade actions are imminent as existing tariffs near their expiration date. U.S. Trade Representative Jamieson Greer has indicated that the Trump administration is preparing to impose new tariffs on a range of countries, potentially including Canada, as part of a broader strategy to address trade imbalances and perceived unfair practices.

According to multiple reports, the administration is expected to roll out fresh import taxes this week, as the 10% global tariffs imposed in February are only able to remain in effect for 150 days. These tariffs were initially imposed under a law that allows levies to remain in effect while the U.S. assesses major trade imbalances. The White House has not yet specified the exact countries or products that will be targeted in the new round of tariffs, but speculation is growing about the potential scope of the measures.

Context and Background

The current wave of tariffs was introduced after the Supreme Court struck down most of the president’s so-called Liberation Day tariffs. The new tariffs are being framed as a response to perceived unfair trade practices, including the use of forced labor in certain industries. The U.S. Trade Representative has emphasized that the administration is committed to addressing these issues through a combination of diplomatic efforts and economic measures.

Recent comments from Trade Representative Jamieson Greer have suggested that the administration is preparing to take further action, with Greer stating on CNBC’s ‘Squawk Box’ that ‘Expect action soon’ on sweeping new tariffs. This comes amid growing tensions with Canada, where the U.S. has already announced plans to impose 50% tariffs in response to how Canada treats U.S. farmers. These developments have raised concerns about the potential impact on global trade and financial markets.

What it means for markets

The potential imposition of new tariffs could create uncertainty in global financial markets, particularly in sectors reliant on international trade. Investors are closely watching the situation, as any new trade measures could disrupt supply chains and affect corporate earnings. The market’s reaction will depend on the scope and timing of the new tariffs, as well as the broader geopolitical and economic context.