The news: US Trade Representative Jamieson Greer said new tariffs on as many as 60 countries could come as soon as this week. Rates would reportedly range from 10% to 12.5%. Friday is also when the temporary 10% surcharge on nearly all US imports expires.
What's replacing it: The expiring duty runs under Section 122, which caps a temporary surcharge at 150 days. The replacement runs under Section 301, the law the US uses against unfair trade practices. This time, it cites forced labor. It covers about 99% of US import value:
10% on 14 economies, including Canada, Mexico, the EU, the UK, and Taiwan
12.5% on around 46 others, including China, Vietnam, India, Japan, and South Korea
Why it matters: The new duties stack on top of tariffs importers already pay, rather than replacing them. Importers who slowed shipments expecting relief after Friday could end up paying the same rates or even more.
The backdrop: The tariffs come as the US reviews the USMCA trade pact. The administration has said it will not renew the agreement in its current form, and President Donald Trump has signaled he wants to exit it.
Washington has also moved fast in the past week, hitting Canada with a 50% tariff and Brazil with a 25% one.
The limit: The administration has less room to raise tariffs than it did a year ago. Disruptions linked to the Iran conflict are already lifting import costs, and trading partners have retaliation plans ready.
Canada has drawn up a $200 billion dollar-for-dollar retaliation list, pushed by former deputy prime minister Chrystia Freeland.
Brazil is activating a reciprocity law to impose countermeasures and filing a complaint at the WTO.
What's next: Greer gave no firm date, saying only that action is expected soon. The surcharge expires Friday.
