EconomyWednesday, 22 July 2026·The Hindu - International
U.S. tariff reset: 10% global levy expiry, 60 trading partners, Section 338 of Tariff Act 1930
The U.S. is preparing new tariffs after the 10% global levy expires on July 24, 2026, with duties aimed at 60 trading partners.
Key highlights
Direct fact
On July 21, 2026, the Trump administration signalled new U.S. tariffs as the 10% global levy was set to expire on July 24, 2026, with fresh duties aimed at 60 trading partners.
Key specifics
- The temporary 10% global duty was imposed by Donald Trump in 2026 after some tariffs were struck down by the Supreme Court in February 2026.
- Analysts said the new forced-labour-related duties could be set between 10% and 12.5%.
- Goods from more than 40 major economies, including China, India and Japan, may face a 12.5% levy.
- Section 338 of the Tariff Act of 1930 was cited as an untested legal provision in the Canada tariff context.
- Trump also announced a 100% sector-specific tariff on imported generic drugs from August 2028, rising to 200% in 2029, with zero tariff from August 2026.
Exam lens
Question type: Economy and trade policy, key facts: 10% global duty, 60 trading partners, Section 338 of Tariff Act 1930, 12.5% levy, August 2028 and 2029 drug tariff schedule. TNPSC may ask about tariff tools, legal provisions, and affected countries.