#UStoImpose10To12.5PercentTariffsOn60Economies

US Broadens Tariffs To 60 Economies As Global Trade Begins A New Chapter Global trade markets have become eyes, ears on alert since the U.S. Trade Representative (USTR) unveiled new tariffs impacting 60 nations based onSection 301of the Trade Act of 1974, imposing tariffs of between 10 and 12.5%, replacing the prior uniform 10% import tariff applicable across the board. The enhanced tariffs, which officially went into effect onJuly 24at12:01 a.m ET and currently cover over 99 percent of U.S.

Trade volume, are part of a broader policy relating to concerns of forced labor.

Under the new regime, some key economies will have increased import costs. The European Union, Japan, Switzerland and South Korea will have import tariffs from 10 to 12.5%. In contrast, Canada, Mexico, India and the United Kingdom will have 10% tariffs; China will be at 12.5%. Note that some significant product categories (e.g., fuel, food and fertilizer) and products facing sector-specific tariffs(i.e., motor vehicles, metals and pharmaceuticals)are currently excluded from new duties, as are products covered under theUSMCA(U.S., Mexico, Canada) trade pact.

Market impacts of new U.S.

Duties will become clear in the near term-especially for global supply chains, input and product costs, inflation, and strategies adopted by businesses engaged in global commerce, all with consequences for currencies,commoditiesand markets. Remains U.S. Policy is an ongoing backdrop for global economic developments.

In the coming months, trade policy, and reaction, could have a sway on markets. What do you believe - will these enhance American competitiveness or jack up costs throughout the world’s economy?

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