Trump rebuilds tariff wall with sweeping new import duties hitting 60+ countries

President Trump just decided the global trade environment wasn’t chaotic enough. On July 24, the administration rolled out fresh tariffs ranging from 10% to 12.5% on goods imported from more than 60 trading partners, covering a staggering 99.4% of all US imports. The new duties arrived on the exact day a temporary 10% global tariff expired after 150 days in effect. Canada gets the worst of it Four days before the broader action, Trump signed a separate executive order slamming 50% tariffs on 554 Canadian products. That order, signed July 20, takes effect August 19 and targets everything from dairy products to electronic goods to machinery. Hockey equipment made the list too. The administration cited what it called discriminatory practices against US products by Canada. The broader Section 301 tariffs cover a diverse basket of goods from dozens of countries. The rates vary between 10% and 12.5%, with significant product exemptions built in, partly reflecting US concerns about forced labor in international supply chains. The Section 301 provisions alone are projected to generate $581 billion in revenue between 2026 and 2036. The legal backstory changes everything This latest tariff a...