According to an announcement from the Office of the United States Trade Representative (USTR), pursuant to Section 301 of the Trade Act of 1974, tariffs of 10% to 12.5% will be imposed on 60 economies. The new tariffs take effect at 12:00 PM (UTC+8) on July 24. Tariffs on goods in transit will take effect at 12:01 PM (UTC+8) on July 28. Fuel, food, fertilizer, products subject to industry-specific tariffs, and goods covered under USMCA are exempt from the new tariffs, and these new tariffs will not be stacked on top of the Section 232 tariffs imposed by Trump.
USTR Imposes 10-12.5% Tariffs on 60 Economies, Effective July 24
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Summary
USTR announced new tariffs of 10–12.5% on 60 economies under Section 301, effective July 24 at 12:00 PM UTC+8. Goods in transit will be subject to tariffs starting July 28 at 12:01 PM UTC+8. Exemptions include food, fuel, fertilizer, and goods under USMCA. These tariffs do not stack with Trump-era Section 232 duties. The move increases pressure on risk-on assets amid regulatory shifts. CFT regulations remain unaffected by the new trade rules.
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