Week Beginning 20/07/2026
On Friday 24 July, President Trump imposed a new round of tariffs of 10–12% on imports from more than 80 countries. The move follows a February Supreme Court ruling that he had acted unlawfully by introducing previous tariffs without congressional approval. In response, Mr Trump enacted a temporary 150-day global tariff, which expired on 24 July, prompting this latest package. The new measures rely on Section 301 of the Trade Act 1974, which allows the president to impose tariffs without congressional approval if the US Trade Representative finds unfair labour practices affecting American commerce following an investigation. The tariffs, affecting major trading partners including the UK, Canada, Mexico and India, are likely to face legal challenges. According to the US Trade Representative, each country was assessed on whether it was doing enough to prevent imports produced with forced labour from entering the US. With American consumers expected to bear nearly 90% of the cost, the political consequences may become clearer by November's midterm elections.
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