The US announced new tariffs on imports from 60 economies on Thursday, July 23. These duties, ranging from 10% to 12.5%, target most major trading partners and replace expiring Section 122 levies.
The new levies are being implemented under forced labor provisions, though several countries have questioned the administration's claims. The measures follow a Supreme Court decision that struck down most of the administration's previous tariffs, piercing the tariff wall previously established by President Donald Trump.
President Trump had been largely quiet on trade wars since the start of the Iran conflict in February and the Supreme Court ruling, leading many to believe the campaign of import taxes would fade until after the November midterm elections. The new rules are expected to remain in place for some time, pending possible legal challenges.