By William Collins, consultant in stock markets – Eurasia Business News, July 23, 2026. Article no 3033
The Trump administration planned to impose new tariffs on Friday as the temporary 10% global tariff expired, with the new duties taking effect at the same moment.
The earlier proposal targeted 60 trading partners, including the European Union, China, Mexico, and Canada, and said the tariffs would cover roughly 99% of imports into the United States.
Key exemptions
The reported plan would exempt oil and gas, fertilizer, certain foodstuffs, and goods already covered by Section 232 tariffs such as autos, steel, aluminum, and copper.
USMCA-compliant goods would also be exempt because of North American supply-chain integration and the amount of U.S. content in those products.
Market angle
For markets, the important point is that this is not a narrow trade action: it is broad enough to matter for inflation, industrial inputs, and global supply chains.
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A headline claiming “99% of US imports” is consistent with the proposal language, but the precise final scope depends on the administration’s finalized tariff schedule and exemptions.
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© Copyright 2026 – Eurasia Business News. Article no. 3033
Eurasia Business News 