Trump Imposes 10%–12.5% Section 301 Tariffs on Goods From 60 Countries, Citing Forced-Labor Enforcement
- Section 301 tariffs took effect July 24, 2026 covering roughly 60 trading partners and ~99% of US imports: 10% on Canada, the EU, and the UK and 12.5% on China, Japan, India, and Brazil, after the temporary 10% global tariff expired (stockwirex.com; Reuters via Economic Times).
- Trump cited lax enforcement of forced-labor bans as the trigger; the move re-injects a trade-policy risk premium into equity markets the same day Mag-7 tech names sold off on AI capex worries, hitting complex cross-border supply chains for chips, autos, and hardware.
- Officials from Canada, the EU, China, Japan, and Mexico are expected to weigh retaliation or WTO challenges; USTR is also preparing additional manufacturing-sector duties.