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New US tariffs take effect today, imposing 10%-12.5% tariffs on dozens of countries

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PANews July 24 news: According to Jiemian News, just as the 150-day global temporary tariffs expire this Friday, the Trump administration has rolled out new tariff measures. Citing Xinhua News Agency, it said the Office of the U.S. Trade Representative issued a notice on July 23 announcing, under Section 301 of the Trade Act of 1974, that tariffs of 10% to 12.5% would be imposed on dozens of countries and regions for failing to stop “forced labor,” effective at 24:00 U.S. Eastern Time on July 24. The above tariffs will cover 99% of U.S. trade volume. The new tariffs, on top of the tariffs that have already taken effect, mean only some agricultural products, medicines, aviation parts, steel and aluminum, etc. can obtain exemptions. The new tariffs, on top of the tariffs that have already taken effect, mean only some agricultural products, medicines, aviation parts, steel and aluminum, etc. can obtain exemptions.
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