New tariff framework implemented! The United States imposes tariffs of 10%-12.5% on dozens of countries, with exemptions for oil, natural gas, and food.

At the expiration of the global temporary tariffs, the Trump administration has introduced a new tariff system, continuing its aggressive trade protectionism. According to Xinhua News Agency, the Office of the United States Trade Representative announced on the 23rd that, based on Section 301 of the Trade Act of 1974, tariffs of 10% to 12.5% will be imposed on dozens of countries and regions under the guise of "forced labor," in place of the expiring global import tariffs. The new tariffs will take effect on the 24th of the Eastern Time in the United States, with exemptions for oil, natural gas, and food. The Office of the United States Trade Representative issued a statement on Thursday stating that the above-mentioned tariffs will cover 99.4% of U.S. trade. According to reports, a senior U.S. official stated that the new tariffs will not be stacked on top of the "Section 232" tariffs on steel and aluminum imposed by Trump last year on national security grounds. Analysts believe that the introduction of the new tariff system signifies that the White House will continue to use tariffs as a core tool to reshape the trade landscape, which will have a continuous impact on the cost structure and supply chain layout of U.S. importers. The comprehensive tariff offensive is accelerating, as Brazil and Canada face pressure The new tariffs are part of the recent intensive tariff actions taken by the Trump administration. According to CCTV News, on July 15th local time, the Office of the United States Trade Representative announced that, under the instruction of President Trump, Trade Representative Girel is taking final action under Section 301 of the Trade Act of 1974 to impose a 25% tariff on some goods from Brazil. The tariff measures officially took effect on July 22nd. The Office of the United States Trade Representative stated in a statement that the action was the conclusion of a year-long investigation, finding that Brazil's policies in digital trade, tariffs, intellectual property, ethanol supply, and deforestation burdened U.S. businesses. In addition, Wall Street saw reports that on July 20th local time, the White House announced additional 50% ad valorem tariffs on certain Canadian products, citing "discriminatory measures" taken by Canada in the trade of automobiles and auto parts with the U.S. The new tariffs will officially take effect at 12:01 AM on August 19th Eastern Time, and will be levied on top of existing tariffs, taxes, and other charges. Legal dilemmas prompt tool changes The adjustment of this round of tariff systems reflects the Trump administration's passive response at the legal level. After the global tariffs were halted by the U.S. Supreme Court in February, the White House was forced to find alternative authorization paths. Sections 301 and 122 became the main replacement options, with the former targeting unfair trade practices and the latter addressing international balance of payments crises, both providing legal basis independent of the president declaring a "national emergency." For a long time, Trump has positioned tariffs as revenue-generating tools and diplomatic leverage, and has dismissed criticisms that tariffs essentially tax U.S. importers and raise consumer prices. U.S. Trade Representative Jamieson Greer testified before the Senate on Wednesday: We are committed to continuing the use of tariffs and advancing negotiations to support the industrialization of the U.S. economy, protect American workers, raise their wages, and reduce the trade deficit. With the new tariff framework being consolidated at the legal level, the market expects this policy orientation to extend to more trading partners and industries. This article is reproduced from "Wall Street sees"; GMTEight editor: Li Fo.