President Donald Trump's administration announced plans to impose sweeping tariffs ranging from 10% to 12.5% on imports from 60 trading partners, including the European Union and Taiwan. The announcement came on Thursday, July 23, 2026, from the office of U.S. Trade Representative Jamieson Greer.

The tariffs are aimed at combatting "forced labor" violations and will take effect on Friday, July 24, 2026. This move follows an investigation initiated under Section 301 of the Trade Act of 1974, which allows the U.S. to impose levies in response to adverse trade policies by other countries. The tariffs also mark an effort to reinstate broad duties that were struck down by the Supreme Court earlier this year.

The new tariffs will begin on the same day that a previously announced 10% global tariff, imposed immediately after the Supreme Court ruling, is set to expire. Seventeen trading partners will face a 10% tariff, including Argentina, Bangladesh, Cambodia, Canada, Ecuador, El Salvador, Guatemala, Honduras, India, Indonesia, Jordan, Malaysia, Mexico, Pakistan, Sri Lanka, the United Kingdom, and Trinidad and Tobago.

Products from the European Union and Taiwan will also be subject to a 10% tariff. White House officials noted that the measure closely resembles a proposal issued by the Trump administration in June 2026.

Additionally, a day after the tariff announcement, President Trump declared a 100% tariff on generic drugmakers, scheduled to take effect in 2028.

Sources