U.S. readies new tariffs as Trump's 10% global levy to expire
The United States is set to impose new tariffs that could hit dozens of countries soon, trade envoy Jamieson Greer signalled on Tuesday (July 21
The United States is set to impose new tariffs that could hit dozens of countries soon, trade envoy Jamieson Greer signalled on Tuesday (July 21, 2026), with President Donald Trump's temporary global levies due to expire this week. The Trump administration has prepared fresh tariffs targeting 60 trading partners over their alleged failures to act against forced labor, as officials push to rebuild the U.S. leader's trade agenda after legal setbacks. "We expect to see some action soon," Mr. Greer told CNBC when asked if new duties were incoming. He did not specify a timeline. Trump imposed a 10% global duty this year after a swath of his tariffs were struck down by the Supreme Court in February, but this levy expires on Friday (July 24, 2026). Analysts expect that new tariffs over forced labour concerns — set between 10% and 12.5% — would replace these temporary duties. They come as Mr. Trump makes a renewed push to use tariffs as leverage against U.S. trading partners, sparking fears of retaliation and diplomatic tensions. Washington announced a fresh 25% duty on certain Brazilian goods last week, and on Monday unveiled a 50-percent levy on many Canadian products to take effect in 30 days.
Canadian Prime Minister Mark Carney said on Tuesday (July 21, 2026) that he was looking at "all options," adding that he and Mr. Trump had agreed to "intensify discussions" in the coming weeks on a possible deal. On Tuesday (July 21, 2026), Mr. Trump announced a new 100% sector-specific tariff on imported generic drugs to take effect from August 2028, with that level rising to 200% in 2029. For now, the U.S. leader said the tariff on generic drugs would be cut to zero from August 2026, in an effort to build a window for the onshoring of such pharmaceutical production to the United States. Forced labor concerns Greer said on Tuesday (July 21, 2026) that new action on forced labour will cover the majority of U.S. trade, with the moves likely to reignite trade tensions. A 10% tariff rate would hit U.S. imports from partners including Canada, the European Union, Mexico, Taiwan and the United Kingdom. They were found to have taken steps against forced labor. Goods from over 40 other major economies like China, India and Japan face a 12.5% levy.
The EU previously said that it considers tariffs imposed on these grounds "unjustified." Canada pressure Washington's planned 50% tariff on Canada also comes as U.S.-Mexico talks over a North American free trade pact intensify. Washington recently declined to extend the accord in its current form. Greer is set to travel to Mexico from Wednesday (July 22, 2026) to Friday (July 24, 2026) for discussions linked to a joint review of the U.S.-Mexico-Canada Agreement (USMCA). But negotiations with Canada have proceeded at a slower pace. Carney on Tuesday (July 21, 2026) did not suggest that he would head to Washington for talks. Some lawyers see Mr. Trump's use of an untested legal provision — Section 338 of the Tariff Act of 1930 — as a means to gain leverage over Canada in USMCA negotiations. Trade lawyer Dave Townsend of Dorsey & Whitney added that higher tariffs "appear to be aimed at encouraging an agreement between Canada and the United States, or in retaliation for the failure to reach such agreement, or both." The question, he said, is whether both sides will start a "cycle of escalation and retaliation." Crucially, Mr. Trump's latest salvo will not exempt affected Canadian products entering his country under the USMCA.
The BriefWire