On July 23, the Office of the United States Trade Representative (USTR) officially announced that, under Section 301 of the Trade Act of 1974, new tariffs ranging from 10% to 12.5% will be imposed on imported goods from 60 economies.
The new measures took effect at 12:01 a.m. Eastern Time on July 24 (12:01 p.m. Beijing Time on July 24), replacing the previous temporary 10% global tariff that expired.
Economies Subject to a 10% Tariff (17 economies):
Argentina, Bangladesh, Cambodia, Canada, Ecuador, El Salvador, Guatemala, Honduras, India, Indonesia, Jordan, Malaysia, Mexico, Pakistan, Sri Lanka, Trinidad and Tobago, and the United Kingdom.
Economies Subject to a 12.5% Tariff (38 economies):
Algeria, Angola, Australia, Bahamas, Bahrain, Brazil, Chile, Mainland China, Colombia, Costa Rica, Dominican Republic, Egypt, Guyana, Hong Kong SAR, Iraq, Israel, Kazakhstan, Kuwait, Libya, Morocco, New Zealand, Nicaragua, Nigeria, Norway, Oman, Peru, Philippines, Qatar, Russia, Saudi Arabia, Singapore, South Africa, Thailand, Türkiye, United Arab Emirates, Uruguay, Venezuela, and Vietnam.
Special Tariff Treatment Economies (5 economies):
For goods from the European Union and Taiwan, the combined rate of the Most-Favored-Nation (MFN) tariff and the new Section 301 tariff will reach 10%.
For goods from Japan, South Korea, and Switzerland, the combined tariff rate will reach 12.5%.
If the existing MFN tariff rate has already reached the applicable level, the additional Section 301 tariff will be zero.
Exemptions and Non-Stacking Rules:
Fuel, most unprocessed agricultural products/food products, and fertilizers are excluded from the additional tariffs.
Tariffs under Section 232 (covering industries such as automobiles, metals, and pharmaceuticals) will not be applied in addition to these Section 301 tariffs.
Goods covered under USMCA (United States-Mexico-Canada Agreement) are exempt.
A separate textile mechanism is also included, allowing certain quantities of apparel and textile products to enter the US at lower tariff rates.
Treatment of Goods Already in Transit:
For goods that were loaded onto a vessel at the port of loading before 12:01 a.m. Eastern Time on July 24 (12:01 p.m. Beijing Time on July 24) and are already in the final mode of transit to the United States, the new tariffs will not apply, provided that the goods are:
Entered for consumption in the United States, or
Withdrawn from a bonded warehouse for consumption
before 12:01 a.m. Eastern Time on July 28 (12:01 p.m. Beijing Time on July 28).
（Source: Sohang.com (搜航网) WeChat Official Account.）
