On Friday, July 24, 2026, President Donald Trump imposed new import taxes on products from dozens of top U.S. trading partners. In this photo, Trump speaks to a genial audience at Wheeler High School near Marietta, Georgia, on July 22, 2026. (Photo by Ross Williams/Georgia Recorder)
WASHINGTON – President Donald Trump revived his tariff program on Friday, imposing new import taxes on products from dozens of top U.S. trading partners, immediately replacing the transient global tariffs he imposed after the U.S. Supreme Court dealt a major blow to his sweeping “Emancipation Day” obligations.
As of Friday morning, U.S. importers will now pay an additional 10% to 12.5% ​​of product value for most goods from nearly 60 countries, including Canada, the European Union, Japan, Mexico, South Korea, Taiwan and the United Kingdom, among dozens of others. According to US trade authorities, the tariffs could affect 99.4% of imports.
The new round of import taxes, first announced delayed Thursday afternoon, replaces the blanket 10% tariff on world goods under Section 122 of the Trade Act 1974, which expired at midnight Friday. These tariffs invited new ones legal challengesincluding from Democratic-led states.
The latest tariffs were imposed after the Office of the United States Trade Representative allegedly found forced labor conditions in all economies under investigation under Section 301 of the 1974 Trade Act.
U.S. Trade Ambassador Jamieson Greer said in a statement Thursday that Trump “recognizes that decades of moral suasion have failed to eradicate forced labor from global supply chains. The United States has had a ban on the import of forced labor for nearly a century and rigorously enforces it; it is long past time for our trading partners to do the same.”
Supreme Court ruling
The Office of the United States Trade Representative announced two wide investigations in March, less than a month after the Supreme Court struck down Trump’s unprecedented global tariffs under the International Emergency Economic Powers Act of 1977, commonly known as IEEPA.
Shortly after the Supreme Court struck at the IEEPA rates it announced in early April 2025, in the so-called “Liberation Day”, the government was in limbo for approximately $166 billion in returns to US importers who have already paid tariffs.
The latest batch of tariffs, effective Friday, is the second round of import taxes announced this week by the Trump administration. The White House introduced 50% tariffs on most goods Import from Canada Monday, triggering customs duties in accordance with Art. 338 of the Tariff Act of 1930.
The crisis-era provision, which has never been enforced before, authorizes the president to impose tariffs of up to 50% of the value of a product in response to discrimination against U.S. trade.
States Newsroom spoke to many people miniature business owners from 2025 on the impact of tariffs on their ability to keep prices stable, hire workers, invest in new equipment and supplies, and just generally continue to operate.
“Ridiculously Dumb”
Critics have blasted the administration’s new series of sweeping tariffs on a enormous share of domestic imports.
Scott Lincicome, vice president of general economics at the libertarian Cato Institute, wrote Thursday that the results of Section 301 investigations were “clearly predetermined” and “both laughably obtuse and wildly disproportionate to any measurable economic distortions.”
“And the whole thing sets a precedent for an ‘automatic tariff generator’ that Trump or a future president can implement at will. It makes a mockery of the real problem and could poison legal reforms. And Congress probably won’t do anything about it.” – Lincicome he wrote.
Some Republicans in the US House of Representatives rejected Trump’s tariff agenda in February, but no legislative changes have emerged.
Senate Minority Leader Chuck Schumer said in a statement Thursday that the president “bleds inflation-plagued Americans dry with his tariffs.”
“Now he’s back for more. Trump’s chaotic tariffs have made life harder and more expensive for Americans. Families are paying more for everyday items. Small business owners are struggling to keep the lights on. Manufacturers are laying off jobs and farmers are being squeezed. Meanwhile, Trump and his billionaire family and friends are getting rich off the backs of working families,” said Schumer, D-N.Y.
Yale Budget Lab estimates Under the new tariffs, consumer prices could rise by up to 1%, adding approximately $1,100 to household costs.
If the tariffs remain in place, the U.S. would gain about $2 trillion in revenue over the next decade, though that number will likely be lower after taking into account the negative impact on the economy, according to the Yale Budget Lab.
