US imposes 10‑12.5% tariffs on 60 partners over forced labor
The United States announced a new set of tariffs affecting imports from 60 foreign economies, to take effect at 00:01 a.m. EDT on 24 July 2026. The duties, imposed under Section 301 of the Trade Act of 1974, range from 10 percent for countries that have enforceable bans on forced‑labour goods (e.g., Canada, the European Union, the United Kingdom) to 12.5 percent for those judged to lack such measures (including Brazil, China, India, Japan and others). The tariffs replace a temporary 10 percent worldwide levy that expired after a Supreme Court ruling barred earlier Trump‑era duties. Exemptions cover goods already subject to sector‑specific duties (steel, aluminium), products covered by the United States‑Mexico‑Canada Agreement, and certain energy and agricultural inputs such as oil, natural gas and fertilizers.
Brazil’s government responded by launching “Brasil Soberano 3”, a credit programme worth R$ 18.5 billion to help exporters absorb the higher costs, and the Ministry of Development said it will consider invoking reciprocity measures. The Brazilian footwear industry warned that the new 12.5 percent surcharge will push its total tariff on U.S.‑bound shoes to 37.5 percent, threatening market share against Asian competitors. The tariffs cover roughly 99.4 percent of U.S. imports, signalling a major shift in Washington’s trade policy toward human‑rights‑linked protectionism.