According to Reuters and FT, President Trump is preparing to impose new tariffs on "dozens of countries" as early as this week, with rates on existing 10% tariffs. The current 10% temporary global tariff expires July 24 (this Friday). The US tariff toolkit is transitioning from "temporary tools" to a "permanent system" – Section 302, Section 301, Section 338 running in parallel.
50% tariffs on Canada already announcedunder Section 338 of the 1930 Tariff Act (first use since 1930), effective August 19, covering dairy, alcoholic beverages, and automobiles. Canadian PM Carney called this "the latest in a series of unilateral US trade actions."
Section 301 tariffs to "take over" covering 60 countries.After the 10% temporary tariff expires July 24, the US is expected to Section 301 tariffs as a replacement tool, covering 60 countries and regions at 10%-12.5%. Japan, South Korea, and the EU are all on the list. Brazil is already subject to 25% Section 301 tariffs starting July 22.
