Trump preparing fresh tariffs on dozens of countries | replaces Friday-expiring 10% global tariff, base rate ~10-12.5%
TL;DR
Trump could unleash fresh tariffs on dozens of countries as soon as this week, replacing the temporary 10% global tariff that expires Friday, per FT. The base rate is expected to hold near 10% (estimates put it 10-12.5%). The administration is also advancing forced labor and currency manipulation probes to build legal grounds for higher future rates.
Trump could unleash fresh tariffs on dozens of countries as soon as this week — the FT reported July 21, Reuters followed — replacing the 10% temporary global tariff that expires Friday. The administration has been running on this temporary 10% since May, after the Supreme Court struck down the earlier tariff framework.
The new tariff's base rate is expected to hold near 10% — other reports put it at 10%–12.5%. It's the Trump administration's last structural patch on the "do not lose global-tariff authority" line — if it doesn't land this week, Friday brings a zero-tariff vacuum.
In parallel, Washington is advancing other investigations — the two central lines are forced labor and currency manipulation, aimed at building legal grounds for higher future rates. That's the new workaround for the Supreme Court decision — jumping from "IEEPA" (presidential emergency economic powers) to specific statutory grounds like forced labor / currency manipulation, anchoring tariff authority on specific legal bases rather than the broad general authorization.
10%–12.5% doesn't move much for China, India, Japan and Korea, all exempted by May-summit bilateral frames. The main impact hits Southeast Asia, the Middle East, Latin America and smaller EU states — the trade partners that haven't reached a bilateral tariff-reduction framework with the US over the past three months. Canada was already lifted to 35% separately; Brazil and Mexico are in a 20-40% negotiation zone.
Win the bet, Trump completes the multi-channel legal backup for tariff authority and Friday's zero-tariff vacuum never materializes. Lose it, the Supreme Court steps in again and tariff policy gets wedged again between constitutional framework and executive emergency power.
via Reuters
The new tariff's base rate is expected to hold near 10% — other reports put it at 10%–12.5%. It's the Trump administration's last structural patch on the "do not lose global-tariff authority" line — if it doesn't land this week, Friday brings a zero-tariff vacuum.
In parallel, Washington is advancing other investigations — the two central lines are forced labor and currency manipulation, aimed at building legal grounds for higher future rates. That's the new workaround for the Supreme Court decision — jumping from "IEEPA" (presidential emergency economic powers) to specific statutory grounds like forced labor / currency manipulation, anchoring tariff authority on specific legal bases rather than the broad general authorization.
10%–12.5% doesn't move much for China, India, Japan and Korea, all exempted by May-summit bilateral frames. The main impact hits Southeast Asia, the Middle East, Latin America and smaller EU states — the trade partners that haven't reached a bilateral tariff-reduction framework with the US over the past three months. Canada was already lifted to 35% separately; Brazil and Mexico are in a 20-40% negotiation zone.
Win the bet, Trump completes the multi-channel legal backup for tariff authority and Friday's zero-tariff vacuum never materializes. Lose it, the Supreme Court steps in again and tariff policy gets wedged again between constitutional framework and executive emergency power.
via Reuters