US unveils 10%-12.5% tariffs on 60 trading partners over forced-labor concerns

Summary

On July 23, 2026, the Trump administration announced new tariffs of 10% to 12.5% on imports from 60 trading partners including the EU, Canada, Mexico, India, China and the UK, citing lax enforcement of forced-labor bans. The duties replace an expiring 10% global tariff and take effect at midnight July 24 under Section 301 of the Trade Act of 1974.