US Plans to Impose New Tariffs Before Friday to Continue the 10% Temporary Global Tariffs Set to Expire

According to The Zhihui Finance APP, sources have revealed that U.S. President Donald Trump is preparing to impose new tariffs on products from dozens of economies before Friday. This move aims to ensure that his tariff regime can be maintained once the temporary 10% global tariff expires. Reportedly, the next round of tariffs will range between 10% and 12.5%.

Last month, the Trump administration proposed additional new tariffs of at least 10% on 60 trading partners, citing these countries’ loopholes in enforcing compulsory labor standards. According to sources, Trump’s team is prepared to implement the tariffs by the end of this week, but it remains unclear whether the final plan will deviate from the initial proposal.

Trump’s temporary tariffs are set to expire on Friday. If a new round of tariffs is implemented by then, the White House will be able to avoid a gap between the two. The plan has not yet been finalized and is still subject to change.

Earlier this year, the US Supreme Court struck down Trump’s previous global tariff policy, after which Trump implemented a 10% global tariff.

This tariff was enacted under Section 122 of the US Trade Act, which authorizes the president to impose an additional import fee of up to 10% for as long as 150 days to address a balance of payments deficit. The United States Court of International Trade also struck down the tariff, but the relief was limited to the plaintiffs, with other importers still subject to the tariff.

With the November midterm elections approaching, Trump steps up tariff measures

According to reports, as the November midterms approach, Trump’s push to advance the latest proposal will solidify his tariff commitments, despite voters’ concerns over the cost of living.

Critics argue that import taxes raise the prices of consumer goods, but Trump and other senior officials claim that tariffs are necessary to rebuild the strength of American manufacturing and protect domestic industries.

This week, the US government pledged to impose a 50% tariff on numerous Canadian products, dramatically escalating the long-standing trade war between the two nations. Last week, the US imposed a 25% tariff on many Brazilian goods.

Based on the proposal submitted by the Office of the United States Trade Representative to address forced labor in the production of imported goods, products from dozens of economies—including Canada, Mexico, and the EU—will be subject to a 10% tariff. Goods imported from other major economies such as China, India, and Japan will be charged a 12.5% tariff.

On Tuesday, USTR Jamieson Greer stated that the US government is expected to invoke Section 301 of the Trade Act of 1974 to impose tariffs of 10% to 12.5% on 60 countries and regions under the guise of “forced labor,” replacing the soon-to-expire 10% global import tariff.

Greer said, “We expect to take some action soon. I can’t give a specific timeline now—I have a duty to brief Congress and other stakeholders before formally disclosing this type of news. But we do expect action on this front in the near future.”

However, another independent investigation into overcapacity that could trigger a series of tariffs is not expected to take effect before Friday. US government officials recently stated that the relevant procedures are still underway.

The proposed tariff scheme requires a formal comment period and hearings before going into effect. This means Trump’s emergency tariffs will take some time to be fully reinstated.

In addition, US copper tariff news once pushed LME copper futures close to $14,000/ton, reaching the highest point since early June. The US Department of Commerce was due to submit its latest recommendation on copper import tariffs to Trump more than three weeks ago, but no final decision has been announced so far.