Jamieson Greer signals that the administration will soon implement a new round of tariffs on imports from dozens of countries.
Jamieson Greer indicated on Tuesday that the administration is preparing to announce new tariffs as soon as this week. These duties are expected to arrive just as the current 10% blanket tariff, imposed by President Trump under Section 122 of the Trade Act of 1974, is scheduled to expire this Friday. The administration is currently working to shore up its trade regime by proposing additional duties of up to 12.5% on imports from 60 economies. These proposed Section 301 tariffs target forced-labor issues and would cover approximately 99% of U.S. trade. While the current law projects an annual household cost of $500 due to tariffs, the implementation of the Section 301 duties could more than double that cost to $1,100. Jamieson Greer noted that while a specific timeline is pending, the administration must brief Congress and other stakeholders before officially revealing the new dates. The move reflects a proactive effort by the administration to maintain a robust trade policy as existing levies lapse.