The US has introduced a new round of Trump tariffs, keeping tariff pressure in place after the previous temporary 10% global duties expired on 24 July 2026. For many major economies, the headline rate has not changed; the bigger shift is that the tariffs now sit on a more durable framework, with some partners facing higher 12.5% rates.
Most economies that have committed to prohibiting forced-labour-produced goods face the lower 10% rate, while those judged to have done less, including China, Vietnam, Japan, South Korea, Australia, and Thailand, face 12.5%.
For Japan, South Korea, and EU members, the mechanism tops existing duties up to one of those two ceilings rather than stacking on top of them, but for most goods in most markets, the direction is uniform: access to the US market has become more expensive in the long term.
Sector and country-specific tariffs add further layers of cost
These duties do not stand alone. Sector-specific tariffs on steel, aluminium, copper, motor vehicles and parts, and microchips remain..........
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