New U.S. Tariffs Covering 99.4% of Imports Take Effect July 24

On July 24, 2026, Section 301 tariffs took effect on imports from over 80 countries, covering 99.4% of U.S. imports. Rates are 10% for countries that adopted forced-labor import prohibitions and 12.5% for those that did not. The USTR investigated 60 economies' labor enforcement. Canada, the EU, Mexico, and the UK face 10%; China, Japan, Australia, and Brazil face 12.5%.