LyrArc Article Gist
New 12.5% and 10% tariffs under Section 301 of the Trade Act of 1974 on 60 countries starting July 24 2026 when earlier tariffs expire. The earlie tariffs were struck down by the Supreme Court as not legally valid because of the statute used. Even though a lot of new media attention was placed on that tariffs move in 2025 and 2026, the same tariffs are back in place. Most if not all of the major trading nations, knew that the best policy was to negotiate an agreement on tariffs with the DJT administration. Countries like Switzerland that were late to negotiate were hit with higher tariffs and opted to sign agreements.  US seeks to get back the supply chain it ceded to China through mistakes made by previous administrations over 30 years. Was the US Supreme Court in a position or inclined to set this back. It simple said use another statute. Congress supported the US president in his action to bring Make in the USA back particularly in the 250th year of the Declaration of Independence. Now Jamieson Greer, head of the Office of the US Trade Representative has reset reestablished the tariffs under a legally valid Section 301. He has also conducted the Investigations on each country required under Section 301 to show that these countries had not met US standards for fighting forced labor. There is likely to be no further media attention to be critical of this move- was all the time attacking a tariffs move without considering the importance of returning supply chains to the US, returning manufacturing to the US? It appears to be when seen at the level of the US economy as a whole.