U.S. Imposes New Tariffs on Major Trade Partners

23.07.2026 · By Bernal Fintech Markets Desk

The U.S. government has announced plans to impose new tariffs ranging from 10% to 12.5% on major trade partners as part of a new set of duties. These tariffs are intended to replace the temporary 10% blanket duties that were set to expire at midnight. The new duties are part of the Trump administration’s efforts to combat forced labor practices in global trade.

The announcement comes after the Supreme Court derailed Trump’s trade agenda in February, which had previously limited the administration’s ability to impose tariffs. In response, the administration has been preparing replacements for the expiring duties. According to reports, U.S. Trade Representative Jamieson Greer is set to hold an announcement on the Section 122 tariffs, which will be part of the new set of duties.

Background on the Tariff Policy

The Trump administration has long used tariffs as a tool to address trade imbalances and protect domestic industries. The initial 10% global tariffs were imposed to pressure trading partners into negotiating better terms for U.S. exports. However, the Supreme Court’s decision in February limited the administration’s ability to maintain these tariffs, prompting the need for new measures.

The new tariffs, which range from 10% to 12.5%, are designed to target countries that are accused of using forced labor in their manufacturing sectors. This aligns with the administration’s broader strategy to address labor practices that are considered unfair or exploitative. The new duties are expected to affect a wide range of products, including those from major trading partners such as China, the European Union, and others.

What it means for markets

The imposition of new tariffs could lead to increased costs for imported goods, potentially affecting consumer prices and business operations. This could also lead to retaliatory measures from affected countries, which may further complicate global trade relations. Investors are likely to monitor the impact of these tariffs on trade flows and economic growth in the coming months.