U.S. Trade Representative Confirms Preparation of a New Package of Tariffs
U.S. Trade Representative Jamison Greer confirmed that President Donald Trump’s administration will announce new tariffs in the near future. This was reported by “European Truth,” citing CNBC.
According to Greer, he did not specify a timeline at this time, as he must first inform Congress and other parties before disclosing details. “We expect some action soon… I can’t give a more precise timeframe right now. I am required to brief Congress and other parties before disclosing such details. But we expect action soon,” he said.
New tariffs are likely to be announced after the previously imposed 10% general tariffs expire. Those tariffs were implemented in February after the Supreme Court rejected Trump’s more ambitious tariff regime. These tariffs expire after midnight on July 24, Washington time, unless Congress decides to extend them, which is considered unlikely.
In early June, the Office of the U.S. Trade Representative proposed additional tariffs of up to 12.5% on goods from 60 countries under Section 301 of the Trade Act of 1974. According to the source, the rationale for imposing these tariffs is suspicion of forced labor. In addition, on July 20, Trump signed an order imposing additional 50 percent tariffs on a range of goods from Canada.
