WASHINGTON — The United States is poised to introduce new tariffs targeting dozens of countries as President Donald Trump's temporary 10% global tariff is set to expire on Friday, July 24, 2026. Trade envoy Jamieson Greer indicated on Tuesday, July 21, that fresh duties could be implemented soon.

The Trump administration has prepared tariffs aimed at 60 trading partners accused of failing to act against forced labor. Analysts anticipate these new tariffs will range between 10% and 12.5%, replacing the expiring temporary duties.

Last week, Washington announced a 25% tariff on certain Brazilian goods, followed by a 50% levy on many Canadian products announced on Monday, August 20, 2026, set to take effect in 30 days. Canadian Prime Minister Mark Carney stated he is considering "all options" and confirmed that he and Trump agreed to "intensify discussions" in the coming weeks toward a possible trade deal.

On the same day, Trump announced a new sector-specific tariff on imported generic drugs, starting at 100% from August 2028 and rising to 200% in 2029. However, the tariff on generic drugs will be cut to zero from August 2026 to encourage the onshoring of pharmaceutical production to the United States.

The American Chamber of Commerce for Brazil recently warned that Washington's measures place Brazil among countries "facing the most restrictive conditions for access to the US market," impacting over US$11 billion in exports.

Trade envoy Jamieson Greer told CNBC, "We expect to see some action soon," when asked about the new duties.

The tariffs on Canadian goods appear to be aimed at encouraging an agreement between Canada and the United States or as retaliation for the failure to reach such an agreement, or both.

Sources