# UStoImpose10To12.5PercentTariffsOn60Economies

The U.S. Trade Representative (USTR) announced on July 23 that it will impose 10% to 12.5% tariffs on 60 economies under Section 301 of the Trade Act of 1974, citing forced labor concerns, replacing the expiring 10% global import tariff. The new tariffs took effect at 12:01 a.m. ET on July 24, covering over 99% of U.S. trade volume. Among them, EU, Japan, Switzerland and South Korea face 10%-12.5% tariffs; Canada, Mexico, India and the UK will see a 10% rate. China faces a 12.5% tariff rate. Fuel, food, fertilizers, and products already subject to sectoral tariffs like autos, metals, and pharmaceuticals are exempt, along with goods covered by USMCA.