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[POLITICS] · United States, Türkiye · 2 sources

Trump readies permanent trade tariffs as WTO waiver ends

The 10% global tariff that the Trump administration put in place under the International Emergency Economic Powers Act is set to expire on July 24, when the 150‑day authority granted by the Supreme Court decision ends. To avoid a legal gap, the administration is shifting to permanent, protectionist measures using Section 301 of the Trade Act, which gives the U.S. Trade Representative (USTR) authority to investigate unfair trade practices.

USTR investigations earlier this year covered more than 60 trading partners, including China, the European Union, Mexico, India and Turkey. Preliminary findings suggested additional duties of 10 % to 12.5 % on imports from those countries. If the new Section 301 tariffs are enacted, the average U.S. tariff rate is projected to rise to about 12.8 % by year‑end, compared with an estimated 9.8 % without the new measures.

Sources

3 days ago